THE RATE OF EXCHANGE
FARMER RECEIVES BENEFIT (From Our Parliamentary Reporter.) WELLINGTON, July 17. The suggestion made recently by Mr D. Jones (Mid-Canterbury) that the farmer suffered from the low exchange rate has brought a reply from the Minister of Agriculture (Mr A. J. Murdoch), who said in the House to-day that the Dominion was already receiving about 9s per cwt on exchange, which was a distinct advantage. This meant that butter selling at 114 s to 115 s per cwt in London was actually returning about 123 s to 124 s with the exchange added. He did not think it would be an advantf"- to the country to have a higher rate. The nearer the Dominion could get to a definite balance the better it would be.
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Otago Daily Times, Issue 21390, 18 July 1931, Page 12
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128THE RATE OF EXCHANGE Otago Daily Times, Issue 21390, 18 July 1931, Page 12
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