RISE IN EXCHANGE RATE
LONDON GAZETTE CRITICAL. BREACH OF OTTAWA SPIRIT. ,-ljiiitwj Press. Aosoetation —By E.ectllo Telegraph Copyright.) LONDON, Jail. 29. The Stock Exchange Gazette condemns the New Zealand exchange as one more offensive in the grim world war of tariffs, prohibitions and other lethal economic weapons. “The worst feature of the change,’ the Gazette adds, “is its breach of the spirit of Ottawa. The Government has struck a dlow at England’s trade despite Ottawa’s atempt to foster Empire ' trade. It means a lowering ol barriers. Mr. Downie Stewart rightly resigned rather than countenance such an anti-imperial move. “The exchange alteration involves an increase in the external debt and is bound unfavourably to affect New Zealand securities in the London market. , “One of the worst features of New Zealand’s action is that Australia is now virtually compelled to maintain the rate at the present level, when everyone hoped for an improvement.”
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Hawera Star, Volume LII, 30 January 1933, Page 5
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151RISE IN EXCHANGE RATE Hawera Star, Volume LII, 30 January 1933, Page 5
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