MONEY IN THE WRONG PLACE
In common with most of the other Australasian banks, said Sir George Elliot at the Bank of New Zealand meeting, funds are accumulating in London to an extent much in excess of requirements, "and we are at present unable to transfer even a portion of the surplus to New Zealand except, at a heavy loss,"- he said. " Exports continue" greatly to exceed imports; and, in the interests of the Dominion, it is to be hoped that tha- position may long continue ; but, as long as it exists, exporters must expect to pay higher rates of exchango than they Jjave recently been accustomed ■ to. Importers, on the other hand, are enjoying rate 3 much more favourable than those they have experienced during tho last U~\v wars."
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Bibliographic details
Evening Post, Volume CV, Issue 142, 16 June 1923, Page 13
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130MONEY IN THE WRONG PLACE Evening Post, Volume CV, Issue 142, 16 June 1923, Page 13
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