EXCHANGE RATE
THE GOVERNMENT'S INTENTIONS MR S. G. HOLLAND ASKS FOR PRONOUNCEMENT The opinion that the Government should make some pronouncement on its intentions relating to exchange was expressed by Mr S. G. Holland, in his presidential address to the Canterbury Employers' Association last evening. "Without wishing to discuss the merits or demerits of what has become known as high exchange," said Mr Holland, "and I admit that sound argument can be produced on both sides, I do think it is high time that the Government made some pronouncement as to its future intentions concerning this subject. "While many of our members [strenuously opposed high exchange, I think most, if not all, will agree that to return to the old rate overnight would be a grave mistake. Such a reduction would produce a state of affairs bordering on commercial chaos. When the time arrives for a return to normal methods of fixing exchange rates I feel that the process should be a gradual one, over a definitely known period, so that importers, industrialists, and others will have time to make the many adjustments which will be necessary."
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Bibliographic details
Press, Volume LXIX, Issue 20977, 4 October 1933, Page 8
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187EXCHANGE RATE Press, Volume LXIX, Issue 20977, 4 October 1933, Page 8
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