Reduction in Exchange Rate Wanted
MR. W. GOODFELLOW'S VIEW Per Press Association. AUCKLAND, Last Night. The opinion that the lime had arrived when serious consideration should bo given to tho reduction of New Zealand's high exchange rate Mas expressed to-day by .Mr. William Goodfellow. He said the raising of the rate had given some immediate benefit, but with increasing internal costs any advantage obtained by the producer was rapidly disappearing. During (bo election campaign efforts would be made to justify the high exchange policy, and lie. desired to po!.:t out that there were possibilities of .serious repercussions.
Mr. Goodfellow said that lie was of opinion that New Zealand had a wonderful opportunity to-day to give the lead to tho Empire by making a concrete offer to the British Government of a treat}- on a reciprocal trade basis. The free market for our dairy produce was not likely to last much longer, as the Danish agreement would expire on April 24. Britain would then impose duties.
Preference would be given to the Dominions, but even so the duty on butter and cheese, and especially on by-products, would be a serious matter and every possible avenue of escape should be explored at the earliest possible moment-;-'
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Bibliographic details
Manawatu Times, Volume 60, Issue 196, 21 August 1935, Page 4
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204Reduction in Exchange Rate Wanted Manawatu Times, Volume 60, Issue 196, 21 August 1935, Page 4
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