MONEY DEVALUATION
N.Z. Policy NOT RAISING EXPORT PRICES. (Per Press Association.) AUCKLAND, October 4. The Auckland Chamber of Commerce to-day adopted a recommendation of its Importers’ Committee to the effect that it would be unwise to con sider seriously the permanent devaluation of the New Zealand currency. T'he Chairman said that politicians claimed that the high exchange had benefited export prices, and they had quoted index numbers, but those index numbers had also been inflated. The measure of the Dominion’s export prices, he said, should be in sterling. If they so measured those prices, it would be found that the export prices had fallen materially since the exchange was inflated. The fall was four and a-half per cent, for all of the Dominion’s exports, and 24 per (-ent. for the dairy produce group of exports.
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Grey River Argus, 5 October 1934, Page 10
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135MONEY DEVALUATION Grey River Argus, 5 October 1934, Page 10
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