MR. COATES REPLIES

Stratford Evening Post, Volume II, Issue 220, 13 April 1933, Page 6

MR. COATES REPLIES

Wellington, April 12.—Commenting (in the London cable regarding high exchange, the Rt. Hon. J. G. Coates said that two of the statements were so inaccurate that it was difficult to believe that they were made as reported, and it was perfectly certain that they were not made by anybody conversant with the facts. The British Government did not give any advice as to the rate of exchange, nor had the matter at any time been subject to representations by that Government. The course adopted was , taken on the responsibility of the Now Zealand Government, which had full regard to all the circumstances, and particularly to the necessity, as a matter of national policy, of assisting the Dominion’s most essential industries. The second point calling for comment because it was so obviously wide of the mark was that through the legislation tire advantage of the British preference had been wiped out. It was not so. The tariff preference on imports, by which a substantial preference was given British against foreign imports, was not affected by the variation in the exchange rates.