REHABILITATION
NEW ZEALAND'S PROGRESS
MORE IMPORTS DESIRABLE
LONDON, August 25.
The "Financial News" says that tho Now Zealand Minister of Finaneo, Mr. J. G. Coates's, Budget speech shows that tho process of rehabilitation ill New Zealand is proceeding well. With tho present level of imports and exports sterling balances are still piling up in London. These will now be absorbed presumably by the Eeservo Bank, which is able to issue notes in exchange. Thus an inflationary tendency may well become apparent. Internal prices at present have not increased since tho depreciation.
The intention at present appears to be that tho sterling holding should b« regarded as an extra cover for the no to ; ssue — a i as t lino of defence —but that it cannot continue indefinitely in faca of the growing balance. Thus the exchange situation would demand an increase in imports provided the export level was maintained.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19340827.2.79.4
Bibliographic details
Evening Post, Volume CXVIII, Issue 49, 27 August 1934, Page 9
Word Count
149REHABILITATION Evening Post, Volume CXVIII, Issue 49, 27 August 1934, Page 9
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in