HIGH EXCHANGE RATE
POLICY CRITICISED SIR F. BELL’S ATTACK (Per Press Association.) WELLINGTON, this day. ‘When the Legislative 'Council met at 10.30 amp, the Finance Bill was referred to the Statutes Revision Committee. On the second reading of the Appropriation Bill, Sir Francis 801 l entered an emphatic protest against the raising of the exchange rate, and referred to a prospectus issued in London which stated that the public debt had increased by £23,317,000 in one year. He said there were whispers .that the remedy was to be repudiation. Surely R was time for the Government to pause and consider, not only the welfare of one class, but the hateful, hideous burden lhat, was being east on the country, Thq Hon. R. Masters'defended the Government's action in raising the pxehangc ratc < and said the total obligation on the Government was £ 1417,000.
The hill was put through tho remaining stages and passed, and the Council adjourned at 1.43 p.m. until the ringing of the bells.
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Bibliographic details
Poverty Bay Herald, Volume LXI, Issue 18547, 6 November 1934, Page 11
Word Count
164HIGH EXCHANGE RATE Poverty Bay Herald, Volume LXI, Issue 18547, 6 November 1934, Page 11
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