EXCHANGE INCREASE
ANTI-IMPERIAL MOVE
LONDON FINANCIAL OPINION
BREACH OF OTTAWA SPIRIT
United Press Association—By ' Electric Telegraph—Copyright. (Received 30th January, 9 a.m.) LONDON, 29th January. The "Stock ' Exchange Gazette" condemns the New Zealand exchange move as one more offensive in the grim world-war of tariffs, prohibitions, and other lethal economic weapons. It adds: "The Worst feature of the change is its. breach •of the spirit of Ottawa. The Government has struck a blow at England's trade, despite Ottawa's attempt to foster Empire trade by means of a lowering of the barriers. Mr. Stewart rightly resigned rather than countenance such an anti-Im-perial move. The exchange alteration involves an increase of external debt and is bound to affect unfavourably New Zealand securities on the London market. One of the worst features of New Zealand's action is that Australia is now virtually compelled to maintain the rate at the present level when everyone hoped for an improvement.''
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Bibliographic details
Evening Post, Volume CXV, Issue 24, 30 January 1933, Page 10
Word Count
153EXCHANGE INCREASE Evening Post, Volume CXV, Issue 24, 30 January 1933, Page 10
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