HIGH EXCHANGE.
Pronouncement of Policy by Government Wanted.
The opinion that the Government should make an early pronouncement of its future intentions regarding the exchange rate was expressed by Mr S. G. Holland, in his presidential address at the annual meeting of the Canterbury Employers’ Asssociation last evening. “Without wishing to discuss the merits or demerits of what has become known as high exchange, and I admit that sound argument can be produced on both sides,’’ said Mr Holland, “I do think it is high time, that the Government made some pronouncement as to its future intentions concerning this subject. While many of our members strenuously opposed high exchange, I think most, if not all, will agree that to return to the old rate overnight would be a grave mistake. Such a reduction would produce a state of affairs bordering on commercial chaos. When the time arrives for a return to normal methods of fixing exchange rates, I feel that the process should be a gradual one over a definitely known period, so that importers, industrialists and others will have time to make the many adjustments which will be necessary.”
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https://paperspast.natlib.govt.nz/newspapers/TS19331004.2.64
Bibliographic details
Star (Christchurch), Volume LXIV, Issue 884, 4 October 1933, Page 4
Word Count
190HIGH EXCHANGE. Star (Christchurch), Volume LXIV, Issue 884, 4 October 1933, Page 4
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