DRAPERS AND EXCHANGE
Ths New Zealand Federation of»Drapers, New Zealand Clothiers and Boot Retailers' organ points to "an important phase in the exchange situation and one that is vital to drapers should free exchange become the order o£ the day. I£ it soars to, 20 per cent, or 30 per cent., prices will become inflated and create a risk of loss to the drapers and others holding stocks when exchange rights itself. It is a difficult matter to provide for, but it is as plain as a pikestaff that with a fall in exchange of, say, 10 per cent., an equivalent writing off of stock values must occur. This difficulty exists at the present time with the exchange at 10 per cent., but it will be intensified and more difficult to provide for should-deflation set in -with exchange at-30-per cent." j
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Bibliographic details
Evening Post, Volume CXIII, Issue 32, 8 February 1932, Page 12
Word Count
141DRAPERS AND EXCHANGE Evening Post, Volume CXIII, Issue 32, 8 February 1932, Page 12
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