VOICE OF THE PEOPLE

Taranaki Daily News, 3 June 1935, Page 7

VOICE OF THE PEOPLE

VIEWS ON CURRENT TOPICS •S " —— ” ACCUMULATION OF EXCHANGE. ( THE QUESTION OF DISPOSAL. (To the' Editor.) .; Sir,—Supposing that one pound is required in payment of goods from abroad, the bank, or transferer, requires an extra ss, or whatever the exchange is, the purchaser pays. In our imagination we see i the pound being paid to the vendor, and the 5s thrown into the pool. Some 1 thought that goods going • from New Zealand would receive something extra in cash from this pool, as the money in this pool had all come out of New Zealanders’ pockets, and in a few cases, if money is sent here directly (not by cheque, exchange notes or credit) receivers may get the extra exchange out of the pool. If all money that goes from here has to pay the exchange, the writer can believe in an accumulation of funds, and that some of this should be added to the money received for our exports to make up where low prices have been paid, especially for butter, unless £2,000,000 capital coming into the country required about £400,000 exchange from the'pooL— I am, etc., MICAWBER. New Plymouth, May 31.