MONETARY COMMITTEE
VIEWS 01' BUSINESS COMMUNITY LOCAL EXPERIMENTS OPPOSED (By Telegraph—PreßS Association) WELLINGTON, This Day. Views of tlie business community as represented by the Associated Chambers of Commerce on the matters being inquired into by the Monetary Committee were submitted to the Committee today by the secretary. Mr A. 0. Heany. It‘is urged that only such changes should be made in the existing monetary system as the banks, in consultation with the Government, may deem necessary to secure stability of exchange between New Zealand and Great Britain. The Associated Chambers is strongly of opinion that local monetary experiments should not he tried. The following remedies were suggested: The present values of all inflated assets must be allowed to find their true level in the readjustment process that has become inevitable. We must guard against further waste and extravagance, balance our budgets, public and personal, so bringing costs into accordance with the new standards of values that have been established.
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Nelson Evening Mail, Volume LXVI, 20 April 1934, Page 4
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159MONETARY COMMITTEE Nelson Evening Mail, Volume LXVI, 20 April 1934, Page 4
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