The Prime Minister, Mr Savage, has given an assurance that there was no chance of an increase in the exchange rate. “High exchange was a barrier between ourselves and our best customer," he said, “and the greatest problem we had was to get away from that with the least amount of disturbance possible. That day must come, but It is not yet.”
The following were given as the average prices paid for butter-fat, by the Hon. W. Nash in Parliament:— 1904-05. 94d; 1913-14, 12d; 1917-18, 24id; 1930-31, 12id; 1934-35, 8.94 d. From 1911 to 1921 production in New Zealand had increased from 300,000 cwt to 900,000 cwt. Production multiplied three-fold in that period, but the total returns multiplied seven and a-half times, and land values rose by £133 millions. In the next ten years production was doubled, but the total returns were a quarter of a million less.
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Bibliographic details
Te Awamutu Courier, Volume 52, Issue 3756, 15 May 1936, Page 6
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148Untitled Te Awamutu Courier, Volume 52, Issue 3756, 15 May 1936, Page 6
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