ATTACK ON EXCHANGE POLICY
ENGLISH ADVICE TO NEW ZEALAND. ALTERNATIVES CONFRONTING DOMINION. United Press Association—By Electric Telegraph—Copyright (Received March 16, 9.25 p.m.) LONDON, March 16. “The Financial News” reviews the position regarding the New Zealand pound and points out that the Government’s holding of surplus sterling exchange has grown In a little over a year to over £20,000,000, and is still growing. “Clearly this cannot. continue for ever,” states the paper. "The choice must lie between reducing the exchange discount or diminishing this large surplus somehow.” The paper concludes: “The downward adjustment of the exchange discount is the only adequate solution, and it would be in the general interest that It should not be too long delayed.”
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Bibliographic details
Timaru Herald, Volume CXXXVII, Issue 19750, 17 March 1934, Page 17
Word Count
117ATTACK ON EXCHANGE POLICY Timaru Herald, Volume CXXXVII, Issue 19750, 17 March 1934, Page 17
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