EXCHANGE COSTS.
.» Government Not Concerned Over Indemnity. STATEMENT BY MINISTERS. Per Press Association. WELLINGTON, April 7. The Prime Minister, Mr Forbes, and the Minister of Finance, the Right Hon J. G. Coates, both made denials to-daj’ - of statements that the Government was concerned after receiving the first quarter’s returns from the banks over the amount which will have to be found for exchange indemnity by the end of the year. Mr Coates declared that he could state quite definitely that neither he nor the Government was concerned in the slightest. There was no truth whatever in the statement that the indications already were that the Government -would be embarrassed in finding sufficient to indemnify the banks on account of exchange surpluses at the end of the year. He said that it would be entirely misleading to accept the first quarter’s figures as a true indication of the year’s working. The Government did not anticipate having to find more on account of indemnity than was at first thought.
Mr Forbes remarked: We will see it through all right. He added that there was nothing abnormal in the figures to date and nothing to indicate that the position at the end of the year would be otherwise than predicted.
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https://paperspast.natlib.govt.nz/newspapers/TS19330408.2.166
Bibliographic details
Star (Christchurch), Volume XLIV, Issue 732, 8 April 1933, Page 21 (Supplement)
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207EXCHANGE COSTS. Star (Christchurch), Volume XLIV, Issue 732, 8 April 1933, Page 21 (Supplement)
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