HIGHER EXCHANGE
NEW ZEALAND’S ACTION
LONDON COMMENT
“BLOW AT ENGLAND’S TRADE”
(United Press Association— By Electric Telegraph—Copyright?
LONDON, 28th January
The “Stock Exchange Gazette” condemns New Zealand’s increased exchange as one more offensive in the grim world war of tariffs, prohibitions, and other lethal economic weapons. It adds :
“The worst feature of the change is its breach of the spirit of Ottawa. The Government has struck a blow at England’s trade despite Ottawa s attempt to foster Empire trade. Mr Stewart lightly resigned rather than countenance such an anti-imperial move. The exchange alteration involves an increase in the external debt and is bound to unfavourably affect New Zealand securities on the London market. One of the worst features of the New Zealand action is that Australia will now be virtually compelled to maintain the rate at the present level when everyone hoped for an improvement.”
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https://paperspast.natlib.govt.nz/newspapers/NEM19330130.2.51
Bibliographic details
Nelson Evening Mail, Volume LXVI, 30 January 1933, Page 5
Word Count
145HIGHER EXCHANGE Nelson Evening Mail, Volume LXVI, 30 January 1933, Page 5
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