HOW CANADA GAINS.
Favoured by the U.S. Exchange Rate. Per Press Association. AUCKLAND, December 26. According to Air R. Robertson, a Vancouver merchant who arrived by the Aorangi, Canada will save about 75 million dollars yearly in interest alone because of the fact that the exchange rate with the United States now favours Canada. Canada had been paying between 12 and 25 per cent exchange at various times, but Canadian funds are now at a premium of from 4 to 5 per cent. Mr Robertson said that nobody seemed able to predict the future in the United States. An outstanding feature was the confidence everywhere in President Roosevelt. There was widespread confidence that if the National Recovery Act failed, Mr Roosevelt will find some other way out.
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Star (Christchurch), Volume LXIV, Issue 954, 26 December 1933, Page 8
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127HOW CANADA GAINS. Star (Christchurch), Volume LXIV, Issue 954, 26 December 1933, Page 8
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