EXCHANGE RATES

Hawera Star, Volume XLVIII, 15 September 1924, Page 9

EXCHANGE RATES

CONFERENCE WITH BANKS. (BY TELEGRAPH-— PREBB ASSOCIATION. V tl . Sept?. :15.y Ihe Plume Minister had a conference on Saturday with representatives of vaiious banks over the exchange difficulty. When seen subsequently, Mi. Massey said he had no announcement to make, but he will probably do so m the House. A DIFFICULT; PROBLEM. (By Telegraph.— Special to Star.) ■ WELLINGTON, Sept. 15. Ihe purpose of the conference of hanking representatives with the Prime Minister on Saturday was to discuss the exchange difficulty, which is so acute between England and the Dominion: but it is reported that the discussions .served more to.illustrate the difficulties of the positioiythan to point to a remedy capable of application through legislative measures. Australia is eo-operat-lng with New Zealand in the hope of improving the position. Mr, Massey intends to make a statement on financial matters during the coming week 01 -,i l ° l an indebtedness, and exchange will be .dealt with. Cables received .last week suggested again the possibility of an Imperial Conference at the •end of the year, though South Africa :could not see its way to he represented by a Minister. This reuort has considerably puzzled New Zealand Ministers,- who had formed the impression that nothing of the kind was contemplated. Further inquiries show that fcnGM? is no intention to bold a. conference of Ministers this year in London, ?nd what South Africa is discussing is its representation on a committee which was suggested at last Imperial Conference to consider economic mats affecting the Empire. The committee has not yet functioned, but it is expected that it will he shortlv set op and that New Zealand will ‘have representation, though it will not be necessary to send a Minister to England for the purpose. ”