EXCHANGE RATE
INCREASE FAIRER THAN IMPORT RESTRICTIONS BUSINESS MAN’S OPINION United Prpfjp Associating DUNEDIN, 13th April. The view that the rising of the exchange rate would be preferable to the present import restrictions, both as a means of building up London funds and of encouraging local industries, was expressed by head of one of Dunedin’s leading importing firms to-day. “It would be all to the good if the Government abandoned the import restrictions, which have proved irksome; and inequitable, and simply fell back on higher exchange.” this importer I said. “This would have the very much to be desired effect of simplifying procedure and would allow individual importers to use their own judgment as to what goods and what quantities of those goods they would bring into the country. “Restriction of certain luxury imports would operate automatically,” he added, “because with a higher exchange rate these would be too highpriced to be imported with any prospect of disposing of them to the public. This would have the effect at which the Government is aiming. “The great advantage of higher exchange as compared with import restrictions is that it puts everyone on absolutely the same basis, and it would obviate such prejudice as seems to have arisen in the case of France with the threat to the sale of our wool.*’
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https://paperspast.natlib.govt.nz/newspapers/NEM19390414.2.97
Bibliographic details
Nelson Evening Mail, Volume LXXII, 14 April 1939, Page 9
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220EXCHANGE RATE Nelson Evening Mail, Volume LXXII, 14 April 1939, Page 9
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