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.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/HNS19190806.2.64.5
Bibliographic details
Hawera & Normanby Star, Volume LXXIV, Issue LXXIV, 6 August 1919, Page 8
Word Count
186RATES OF POSTAGE Hawera & Normanby Star, Volume LXXIV, Issue LXXIV, 6 August 1919, Page 8
Using This Item
See our copyright guide for information on how you may use this title.