EXCHANGE RATE AND WAGES

Hawke's Bay Tribune, Volume XXIII, Issue 75, 10 March 1933, Page 5

EXCHANGE RATE AND WAGES

WATERSIDE WORKERS’ PROTEST MEETING IN NAPIER. The question of the increase in tin cost of living, owing to the increase in the exchange rate, was discussed by the Napier waterside workers at their meeting held recently, and a protest was made against the action oi the Government m increasing the prices of 'commodities by increasing the exchange rate by 15 per cent. It was pointed out that, as the waterside workers’ organisation had entered into an industrial agreementimmediately prior to the increase! in the exchange /'ate, and at that time this increase was not anticipated, it was only reasonable, therefore, to demand an increase in wages at least equal to the amount which the cost og living was increased by the action of the Government m increasing the exchange rate. In addition it was further pointed out that the rise in the exchange rate would reduce the earning power of the waterside workers because it would restrict imports from overseas. Thus, the waterside workers would have their standard of living lowered by an increase in the prices of commodities on the one hand, and a lesser earning power on the other. As the shipping companies which employ the waterside workers have increased freight charges and passengers’ fares by 15 per cent., there is no reason why the waterside workers wages should not be increased b\ an equal amount. lb was therefore resolved that the New Zealand Watersiders’ Federation he requested to apply for an increase in wages at least equal to the increase in the exchange rate.