ONLY TEMPORARY
BENEFIT TO FAEMEES
LONDON OPINION
LONDON, 19th January. The "Financial News," discussing the Hon. W. Downie Stewart's resignation, says:—
"It is significant that all along he has opposed any arbitrary tampering with exchange. If the Government has decided that the rate ought to be raised in order to help the farmers it will find itself faced with many new and difficult problems. \
"If a change in the rate is imposed on the banks the Government will find sooner or later that it will be obliged to undertake the purchase from them of any surplus exchange, as did the Commonwealth Bank a year ago. Moreover, primary producers will only benefit for a time. Ultimately domestic prices will rise, and, moreover, the increase will be. a moral breach of the Ottawa agreements."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19330120.2.111
Bibliographic details
Evening Post, Volume CXV, Issue 16, 20 January 1933, Page 8
Word Count
132ONLY TEMPORARY Evening Post, Volume CXV, Issue 16, 20 January 1933, Page 8
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