Greymouth Evening Star. AND BRUNNERTON ADVOCATE. THURSDAY, MARCH 9th., 1933. "EXCHANGE” BLUNDER.

Greymouth Evening Star, 9 March 1933, Page 6

Greymouth Evening Star. AND BRUNNERTON ADVOCATE. THURSDAY, MARCH 9th., 1933. "EXCHANGE” BLUNDER.

KEIfiS and others who de-

clared dial the lii.o'h peo-o-'mo- of I lie Now Zealand exdiano'e rate was ■i k'i’avi' blunder, have seen no reason, vol. Io he sorry they spoke. Little lieiiefit has been derived by (he rural ])roduet‘rs, so far, as by a curious coincidence, the prices of eoniniodit ies for export have been reduced to an extent etjualling the higher exchange values. Wool prices waxed when the exchange decision was first announced, but since then have waned. Moat export seh.ednle rates have since been reduced, and whal bi.iHer is sold, is at <i price lower than before, although, to be fair, the rate of exeliange is not only responsible for this. As it is expected that whatever the farmers gain by the liigher "xeliange will for Ihe most' part be absorbed, to reduce their debts to l i■ i;iiici,'il iiisi 11 in ions, they 1 hem.■■l'lvt's will he liille the better off fm- i he Imi-ileu Hung on 1 he remain l«‘i- ul iHe eiiiiiilrv by Mr. Coales's HI .ulvi-wil poliey, nor will, they lm\e i lo' promised extra money to ■ p- nd. i.> I'lH'imr.-me the Dmiiinion's ilit i-.i ii.'i l trmie.

Tli.'il ihe burilen is lieu vy cannot hi l dispiitcil. as .ill I hose who buy

from I'u'itaiu, or abroad, know to (heir cost. Jiediict ion of such business was inevitable, and combined

with the effect of the sales fax, wholesalers and retailers have cause to complain. Local bodies, too, especially in the larger cities, where every penny is wanted to reduce the effects of unemployment, find their overseas interest bills greatly increased, and, generally, it is difficult to find, justification, after its actual working, for the high exchange policy. Parliament will rise (his week, for five or six months, during which interval the Minister of Finance will have a free hand, and sufferers through the high exchange rate will have to bear it, even if they cannot grin. It is to be liopcd, however, that when the House does ro-assemble, if further experience of fhe high exchange policy has not proved, any happier, the Cabinet Members will once again change their opinions, and, this time, for the benefit of the nation as a whole, and not for any particular section.

UNEMPLOYMENT DEBATE. T HE long debate on the unemployment relief system, in the House on Tuesday, did not produce much that was useful. Party propaganda dominated ' most, of the Labour speeches, and Ministers were inclined to be complacent. It is absurd for any to suggest that Xew Zealand could do much more for i(s unemployed, even allowing that many of these are enduring hardship. Yet none need be starving, nor homeless. The Board’s annual revenue was shown at over four million pounds, and this in it- ( self is proof of the effort being made to relieve the distress. Private benevolence must also run into large figures, and it must be a very'exceptional, case where appeals for aid go unheeded. Whatever else is lacking, it is not goodwill towards the unemployed. Many expect the coming Winter to witness large increase in unemployment, but according to the Minister, there is enough money in sight, to maintain present allocations for relief work. These payments arc small, but are as much as the country can afford, and no encouragement should be given to the discontented to brood over their troubles. The facts of the situation must be accepted, and the best done by all concerned. Mr. Forbes was justified in declaring that the Labour leader gave the Government, no practical help, his demands being impossible to grant. Labour policy would add tremendously to the present burden of taxation, thus adding to unemployment instead of decreasing it. The proposed round-table conference during the Parliamentary recess, may result, in something useful, but nothing heroic may be expected. Linemployment will take almost as long to die, as it did to grow.