RESENTMENT FELT

Waipukurau Press, Volume XXVIII, Issue 29, 26 January 1933, Page 5

RESENTMENT FELT

At Government’s Action THE EXCHANGE RATE ISSUE INDICTMENT BY BUSINESS-MEN (Per Press Association) WELLINGTON, This Day. The widespread feeling of resentment which has been aroused in the commercial community over the Government s decision as to raising the rate ot exchange was strikingly evident at a public meeting to-day of Wellington business men. It was an overflow gathering, and the Government's action was subjected to severe criticism, most of it ‘ directed at the leaders of the Coalition, the Rt. Hon. G. W. Forbes and J. G. Coates. A resolution was carried condemning the Government for itd action. The principal speakers were Messrs Salmond (president of the New Zealand Importers' Federation) and T. C. A. Hislop (Mayor of Wellington). Mr. Salmond said the Government’s action in raising the exchange was dragging New Zealand s name through the mire. Never again would New Zealand occupy the same place in the minds of the English people. It was not, yet too late. There was still time for Parliament to repair the error. Mi?. Hislop said the country was committed to an utterly art ificial exchange. “It is committed to the proposition that the politician should control business operations. That, cannot last.’’ he said, “because if we as a community cannot stop it at some stage, economic forces themselves will stop it in utter contusion.”