RATES OF POSTAGE

Hawera & Normanby Star, Volume LXXIV, Issue LXXIV, 6 August 1919, Page 8

RATES OF POSTAGE

COMMEXTS BY SIR JOSEPH WARD

AUCKLAND, Aug 6. Sir Joseph AVard says that the fall in the rate of sterling exchange in America- wa s no doubt very serious as* eftecjtins: trade. When he "was in Xew 1 ork the value of the pound was 4 doi-

Jars 45 cents, which at pre-war rates vas tjie equivalent of IBs. That meant a loss of 10 per cent., and lie understood it had since fahen farther. Unless efforts were made to maintain the rate of exchange at the .uormai figure, us would i>e found to have a had effect n]um trade, not only that of Britain but of all countries America buys from or sells to. Our exchange from this country to Britain was far beYond what it should bo, and in the interests of financial institutions, ■ourselves . and «f countries affected, there must be round an effective remedy. As New Zealand is a great selling country of natural products, it is most important that something .should be done. He would go fully into the matter a s soon as he hud an opportunity.