HIGHER EXCHANGE RATE
REPERCUSSION IN BRITAIN. TRADE COMMISSIONER’S VIEWS. By Telegraph—Press Association. Wellington, Last Night. Speaking at a luncheon tendered him by the United Kingdom Manufacturers and New Zealand Representatives’ Association to-day, Mr. L. A. Paish, his Majesty’s Trade Commissioner, who recently returned from Great Britain, touched on the feeling of many people in Britain with regard to- the raising-, Of the exchange rate by New Zealand. There appeared to be a feeling among certain sections of manufacturers and merchants, he said, that they had been subjected to a series of economic shocks to' the sanctity of . contracts, which had long been a principle held in England. Anything that could be done in New Zealand to minimise those shocks would be all to the good. The first, shock was the raising of the exchange. Another shock was the action of the Auckland Transport Board in paying interest m New Zealand currency. , Mr. Paish said he did not think the exchange rate was going to have a lasting bad effect upon imports, which many importers feared. It must be remembered there was such a thing as balance of trade.
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Bibliographic details
Taranaki Daily News, 21 July 1933, Page 7
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188HIGHER EXCHANGE RATE Taranaki Daily News, 21 July 1933, Page 7
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