EXCHANGE RATES.
♦ MANY BUSINESSES OVEKSTOCKED. . There seems to be very diverse oppinions on the action of the banks in increasing the exchange rates, New Zealand on Loudon, so heavily. A Christchurch business man said to a Times reporter: “The banks have done the only thing they could do in order to adjust things. They could not help it. They' must protect themselves. In my opinion, they have done the very best thing. Already it has. put up the prices for our wool. It will help local industry in the Dominion. The only thing I deplore is that the question of our exchange is wrapped up with Australia’s affairs. “Many businesses here are overstocked at present. We have to check importing; and it would do no harm to stop the importation of foreign cars for a few years,”
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Bibliographic details
Bay of Plenty Times, Volume LVIII, Issue 10356, 17 April 1930, Page 6
Word Count
137EXCHANGE RATES. Bay of Plenty Times, Volume LVIII, Issue 10356, 17 April 1930, Page 6
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