TRADE WITH AMERICA
DEPRECIATION OF STERLING EFFECT ON IMPORTATIONS (Special to Daily Times) AUCKLAND. Oct. 30. The effect of the depreciation of sterling in terms of the American dollar upon New Zealand’s importation of American goods and machinery was emphasised by Mr Alexander Harvey, who returned by the Mariposa from a visit to the United States, “ The rise in the exchange value of the dollar, combined with other factors, such as war freights and insurances, has added nearly 25 per cent, to the pre-war price of anything imported into New Zealand from America,” he said. “That is a tremendous blow to business and is bound to have far-reaching effects. Already numerous importers who placed orders before the war and are now obtaining deliveries at advanced prices, are placed in s very awkward position.”
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Bibliographic details
Otago Daily Times, Issue 23953, 31 October 1939, Page 3
Word Count
133TRADE WITH AMERICA Otago Daily Times, Issue 23953, 31 October 1939, Page 3
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