THE EXCHANGE RATE.

Waikato Times, Volume 116, Issue 19313, 20 July 1934, Page 5

THE EXCHANGE RATE.

OPINION OF IMPORTER.

FEELING OF CONFIDENCE,

AUCKLAND, Friday.

“While slill opposed to the principle of Hie high exchange, I. as an importer, and others appreciate Hie confidence which the bank’s decision v,ill give to buying operations," said Mr J. M. Cangliey, yesterday. Mr Cangliey said Hint for a considerable time ihc exchange question bail been hanging over Ihc heads of importers. who were in doubt whether I. ic> rate would he maintained. That, il, mill was now seliled, and importers would probably gain more e.onlUloncc in Ilnur future dealings. The aeuin iliniriilii.'s faring Ihr i.iovernment and 11, Reserve Bank should he eimsider,i,| and il might he Rial the step taken was in I lie lies! interests "f the primary producer under Hie eireumsl aliens.

•■I iirlieve Hie romiueiTi.il community lias eonfalenee in Mr Lefenux, Ihc mwernor of Hie Rank, and ill Hie |„, ; ,rd of directors." said Mr Cangliey. •II j rt desirous of doing everything 1,,, ssi 1 • I,' I o i’fi opera In with I hem in a dillimill situation.- and I believe, that whatever is done will ullimalely lie in the best Interests of all sections of the Uuminion."