EXCHANGE CERTAINTY
Business Hampered by Fear of Change DESIRE FOR ASSURANCE That the business people of New Zealand should forget all about the rate of exchange, and go on ordering their goods was the view expressed by Mr. M. G. C. McCaul at the meeting of the Wellington Chamber of Commerce last evening. He said that firms at present were holding off in the hope that a change would be made, and this was interfering with business. Mr. T. L. Ward agreed with this view, remarking that there was nothing to be gained by harping on the subject of exchange. It would be a foolish thing to attempt to undermine the Government. If the Government had made a mistake in raising the rate of exchange, it would soon discover that it had done so, and correct it. Mr. W. F. Cuthbertson said the people who had to carry stocks had to be considered. If business people could get a definite assurance that the present rate would remain for a time, it would lead to confidence, but to expect people to take the risk of writing 15 per cent, off their stocks within a few months was ridiculous. Until business people had a definite assurance that the rate- of exchange was going to remain fixed for a time there would be very little ordering of stock.
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https://paperspast.natlib.govt.nz/newspapers/DOM19330503.2.49
Bibliographic details
Dominion, Volume 26, Issue 185, 3 May 1933, Page 8
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225EXCHANGE CERTAINTY Dominion, Volume 26, Issue 185, 3 May 1933, Page 8
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