RATE OF EXCHANGE.
The suggestion that the Treasury Department should control the rate of exchange was made by Mr. A. Hamilton (Reform, Wallace) in the House of Representatives yesterday afternoon during the discussion on the Treasury Department Estimates. He said that there was a 5 per cent, premium at the present time on exports, and this was a good thing, but he considered that the banks should not have control of this matter. The Prime Minister might look into the matter at the Imperial Conference. Mr. A. Harris (Reform, Waitemata) said that it was desirable in the interests of Empire trade to have a uniform rate of interest. It might involve the issue of Treasury notes, but he had been told by bankers that it was possible to stabilise the position.
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Evening Post, Volume CX, Issue 47, 23 August 1930, Page 8
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131RATE OF EXCHANGE. Evening Post, Volume CX, Issue 47, 23 August 1930, Page 8
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