THE GOLD STANDARD

Grey River Argus, 4 August 1925, Page 8

THE GOLD STANDARD

BIG FAM. IN EXCHANGE. “In connection with tho cost of marketing,” says the annual report of the New Zealaid Meat. Producers' Board, “the. matter of bank exchange is an important factor. On May 7th, 1925, the bank exchange buying rate on a 30 days’ draft on London amounted to 67s fid per ee.it, this cost being equal to approximately Js 2jd per head on lambs nnd 1s 5d per head on sheep. As New Zealand annually ships about 7,000,000 sheep and lambs, it will be seen what a heavy toll is claimed by exchange. It is pleasing to note that with, a return to the gold standard, there has bee.i a. considerable reduction in cost. A 30 days’ draft, on London is now quoted nt 30s per cent, which Is equal to approximately 6!.d per lamb and 71d per sheep. This is a net gnui to producers of ,Sd per lamb and Djd per sheep. “The present cold storage rate in Great Britain, which is approximately Jd per lb per moath, is a big tax on our frozen meat trade. This rate is excessive and is a. matter which is g"v-| ing concern to the New Zealand Meat Producers’ Board. The position : s aggravated by the fact that there is no dearth of cold storage in Great Britain, ”