ALTERED EXCHANGE

Evening Post, Volume CXIV, Issue 126, 24 November 1932, Page 11

ALTERED EXCHANGE

HAEBOUE BOAED OPPOSES

COUNTRY MEMBERS OBJECT.

Exception to the board taking sides on the rate issue was voiced at last night's meeting of the Wellington Harbour Board by Messrs. M. A. Elliott and W. L. Fitzherbert, representatives of country interests. They were the^only dissentients to a resolution that was passed, formally declaring the board's opposition" to any artificial alteration of the exchange rate* on London, and asked to have their votes recorded. - ■. .

Mr. Elliott said ho was rather surprised to see- in the Press that the board joined in the conference and was represented at the deputation to the Prime Minister in connection with the exchange question. He understood that the conference and deputation re* presented a purely sectional interest, the Importers' Association. His submission was that the Harbour Board represented all sections of the \- community—importers, exporters, producers, consumers—and the country as well as city interests, and Jie did not think the board should take side's on such a highly contentious matter, especially as the board was an interested party. If the rate was increased the board would be called upon to pay increased exchange on London, and his opinion was that ior the board to take sides, viewing the subject apparently from, an individual and parochial point of view, only made the matter worse. ;, ■ '" 'j" MR. NORWOOD'S POSITION. The chairman (Mr. C. J; B. Norwood), interposed, and told Mr. Elliott that the Wellington Harbour Board was not represented at any conference or deputation. It was the Harbours Association of New Zealand, of which he happened to be president, and from whom he had a mandate to sea that it was represented.' Mr. Elliott: The Press reported that the "Wellington Harbour Board was represented. : Mr. Norwood said he thought Mr. Elliott would find he was making an error. ■ Mr. Andrew Fletcher: You made it perfectly clear that you' were representing : the Harbours Association of New Zealand. ' Mr.' Elliott said it appeared to him that the Harbour Board was taking a' very narrow view. --" / • ■ " Mr. Norwood: May I. suggest/that the Harbour Boards Association is taking a. narrow view./ ■:.;■• Continuing,- Mr. Elliott."' contended that the Harbour Boards should view the matter'from' a"national point of view. He was not speaking on the question whether it was advisable to increase the exchange rate. That was too debatable a' point. He would accept what Mr., Norwood had said, and need not labour that ■ point any further. What he did say,.though, was that the matter was .too big for the board', or any other local body to pass resolutions on, either one way or the other. Mr. Fletcher pointed out that tha meaning of the resolution was that the economic rate was the rate that should rule. "EIGHT TO EXPRESS OPINION." "Do I understand Mr. Elliott's remarks apply to the resolution now- before us, because if so there we are undoubtedly, expressing.an opinion arid passing a resolution which ' traverses the ground," said Mr. G". -A. Tronp. Personally, Mr. Troup continued, ha was inclined •to be in conflict witk Mr. Elliott over the point. If» the bodies affected did not'express their opinions, 'was it not very likely ■■■that they -^ould'he overlopked by the Government in the' matter? .' Surely '- a, body such as the Harbour-809.rd was* very deeply ■ interested,: and had every right to give; expression to its views. He heartily approved of the resolution,' and/added that he thought the raising or lowering of the■exchange rate should be. left to the authorities who examined the question and who were competent to fix the rate.of exchange in accordance with the volume of trade. . '~ . . ..... ...., . . , ; Mr. D. J. McGowan:, Supply, and demand. ; ':. ".. " y". .'.■ '. ■~ ' '.. . "I fail to '.see altogether the force of Mr. Elliott's objection that, .because we' are interested parties, we have no ; right to express any. opinion," concluded Mr. Troup. "I think, on. the other' hand,; that because .we are" interested parties we have every right to express an opinion." : Mr. Norwood said that the vie-ws ex> pressed by Mr". Troup exactly to the attitude of the Harbour Boards Association of New Zealand and no other. The resolution was in accord with the advocacy of the association. ■ "",•"'■". Mr. Elliott asked when the association had a meeting. . , , Mr. Norwood, replied that when, the exchange question was raised earlier the association asked him to watch the position in their interests against any niova for an artificial rate. ■ "MATTER FOR EXPERTS." Mr. Fitzherbert said that as far as the exchange - question itself was concerned he did not pretend to know anything about it at all. In his opinion it was a matter entirely for the experts, and he ventured;to say the farmers' organisations andr members of Parliament themselves were not competent to decide such a question. He thought the board.would be in a much better position if it left the question to those experts who had in the past attended to such matters, instead of passing any-resolution and coming into conflict with any. section, of the community whose affairs the board attended to. For that reason alone he intended opposing the resolution.

Mr. Norwood said that the proposed increase in the rate wuld mean a difference of over £30,000 to harbour boards. Mr. Fletcher: In interest alone. .

The resolution was then put and carried. ■ :, '■■■:'.

[In "The Post's" report U the meeting held on Monday under the auspices of the New Zealand Importers' Federation i$ was stated specifically that Mr. Norwood' represented' the New Zealand Harbours' Association.]