RATE OF EXCHANGE

New Zealand Herald, Volume LXIX, Issue 21359, 7 December 1932, Page 14

RATE OF EXCHANGE

INCREASE ADVOCATED DAIRY ASSOCIATION'S VIEWS [from our own * correspondent] HAMILTON, Tuesday The contention that tho Government should at once take steps to increase the rate of exchange to the Australian parity, which, it.was considered, would give immediate relief to dairy farmers and others who were dependent on the exportation of their produce, was unanimously supported at a meeting of the executive of the South Auckland Dairy Association in Hamilton yesterday. The executive is comprised of chairmen of dairy companies in tho South Auckland district. The following resolution was carried unanimously:—"That tho executive of this association, representing 10,000 dairy farmers in the South Auckland and Waikato districts, expresses its deep concern and regret at tho action of tho Government. iu proposing an adjournment of Parliament until January 26 with the question of assistance to the primary producers still not settled or defined. This association further requests tho Government to postpone the suggested adjournment until arrangements have been made to bring the rate of London exchange to Australian parity, and thus afford all primary producers some measure of relief from current disastrous prices." It was also decided to convey to tho Dairy Produce Board the, grave apprehension with which tho association vewed tho decision of tho Associated Banks in refusing to increase the rate of exchange to 25 per cent. r l'he executive expressed the intention of continuing to press the Government on the matter -"with a view to proving to it that to increase tho rate of exchange would bo in tho best interests of tho country as a whole."