THE EXCHANGE RATE.
BENEFIT OF A RISE. FREE SYSTEM ADVOCATED. "Duing the last year the Government, by Order-in-Gouncll, took over the exchange, and by so doing practically fixed it at 10 per cent, We believe that, left to Itself, the exchange would have risen considerably, and we consider that the fanning community is entitled to any rise that ’the position Justifies,” said the president, Mr R. A, Wilson, at the annual meeting of the New Zealand Friesian Association In Hamilton to-day. "Mr Downle Stewart, however, in 'his latest statement on the subject, stated that he hoped to release the exchange after June, so we hope to see it freed In a short time. A rise of b per cent. In the exchange would mean a rise of a half-penny per lb on butterfat to the dairy farmer, and a rise In exchange would stimulate production generally, and tend to decrease Imports, and would set in motion forces which would tend towards righting the present position of the primary producer.”
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Bibliographic details
Waikato Times, Volume 111, Issue 18651, 1 June 1932, Page 6
Word Count
169THE EXCHANGE RATE. Waikato Times, Volume 111, Issue 18651, 1 June 1932, Page 6
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