HIGHER EXCHANGE

Grey River Argus, 19 February 1932, Page 5

HIGHER EXCHANGE

N.Z. EXPORTERS’ CLAIM Is It Warranted ? (Per Press Association.) WELLINGTON, February 1.8 The Meat, Dairy and Fruit Export Boards met to-day to consider the position in connection with the Exchange Pool. A report from the Boards’ Ex change Committee was received and adopted. Great dissatisfaction was expressed by the Boards that the Government had not taken the necessary steps to cancel the Order-in-Council re the pool, and to remove restrictions that had been imposed on free exchange. The three Boards were unanimous in their opinion that farmers had suffered to a material extent by every day’s delay, and that the effect of further delay would be that the results of th ' ' * r ' r 'his production year worn and realised without the

gain to farmers that was legitimately theirs. From evidence collected and laid before the Boards it was considered inevitable that the rate of exchange must rise considerably later in the year, and that the whole of the people would then have to pay increased prices for many lines without having received any benefit that would have been obtained by higher exchange if brought into effect earlier. The Boards held that farmers will thus be sacrificed twice over. The Exchange Committee were instructed to press for an early settlement of the question and to take such action as they deemed necessary.