LEGISLATIVE COUNCIL.
APPROPRIATION BILL PASSED.
HIGH EXCHANGE ATTACKED.
Per Press Association. WELLINGTON, Nov. 6. The Legislative Council met at 10.30. The Finance Bill was referred to the Statutes Revision Committee. On the second reading of the Appropriation Bill, Sir Francis Bell entered an emphatic protest against the raising of the exchange rate, and referred to a prospectus issued in London which stated that the public debt had increased by £23,317,000 in one year. Sir Francis Bell attacked the raising of the exchange rate and said there were whispers that the remedy was to be repudiation. Surely it was time for the Government to pause and consider not only the welfare of the classes, but the hateful and hideous burden being cast on the country. Hon. R. Masters defended the Government’s action in raising the exchange rate and said the total obligation on the Government was £1,417,000.
The Bill was put through the remaining stages and passed. The Council adjourned at 1.45 p.m. until the ringing of the bells.
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https://paperspast.natlib.govt.nz/newspapers/MS19341106.2.17
Bibliographic details
Manawatu Standard, Volume LIV, Issue 291, 6 November 1934, Page 2
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168LEGISLATIVE COUNCIL. Manawatu Standard, Volume LIV, Issue 291, 6 November 1934, Page 2
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