EXCHANGE RATE
NO INCREASE COMING. MR. SAVAGE'S DENIAL. Information was received in Wellington yesterday that the question of "raising- the rate of exchange had been discussed in Auckland, and that a prominent business man in Auckland was laying bets that the rate would be increased. "Tell him to take all he can from me," was the reply of the Prime Minister (the Rt. Hon. M. J. Savage) when he was informed of this. "I have no intention to mislead. There is no chance of an increase in the exchange rate. "I have always argued, and still argue, that a high rate of exchange is a barrier between ourselves and our best customer, and the greatest problem we have to face is to get away from that with the least amount of disturbance possible. That day must come, but it is not yet."
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Bibliographic details
King Country Chronicle, Volume XXX, Issue 4845, 14 May 1936, Page 5
Word Count
142EXCHANGE RATE King Country Chronicle, Volume XXX, Issue 4845, 14 May 1936, Page 5
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