EXCHANGE SURPLUS
MR. COATES’S REJOINDER.
' [FEB PRESS ASSOCIATION.]
WELLINGTON, March 17.
Commenting on the London cablegram regarding the Financial News criticism of the New Zealand exchange rate, Mr. J. G, Coates, said that the comment ascribed to the “Financial News” was in line with that journal’s well-known criticism of New Zealand exchange rate policy which it had per-, sisted in misunderstanding. ; “Nobody who is aware of this paper s attitude,” he said, “will now be misled —even though it is a comment from such a newspaper and from overseas, these circumstances do not establish it a truth. As a matter of fact, there is no occasion whatever for concern over the funds held in London, and any speculation based on a probable variation in the rate are unwarranted.” 1
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Greymouth Evening Star, 19 March 1934, Page 12
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129EXCHANGE SURPLUS Greymouth Evening Star, 19 March 1934, Page 12
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