£1,500,000 MORE
DOMINION'S OVERSEAS INTEREST The high exchange means an immediate addition of £1,600,000 yearly to Government and local body payments in respect of interest overseas. This is the, conclusion of a prominent banker, who was asked to make an estimate of the position. He assumed that the Government's overseas payments were eight millions, and said that to-day's increased exchange meant all added charge of £1,200,000 in meeting this obligation. J/Ocal bodies paid nearly two millions in interest overseas, and their added obligation would be £200,000, making a total of one and a-half" millions as the extra burden due to pegged exchange. The sailie authority declared that there was bound to be a very heavy loss from falling imports and a consequent drop in the Customs receipts. >
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https://paperspast.natlib.govt.nz/newspapers/ESD19330120.2.38.2
Bibliographic details
Evening Star, Issue 21315, 20 January 1933, Page 8
Word Count
127£1,500,000 MORE Evening Star, Issue 21315, 20 January 1933, Page 8
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