RATES OF EXCHANGE
COST'S IMPOSED ON N.Z. ( By Telegraph, Per Press Association.j AUCKLAND, Opt. 30. ,|l The adverse rate of exchange is driving New Zealanders back to their / own country t said Mr M. lE. Barnett, formerly assistant Public Trustee who returned from, abroad-: 'lf, yob,,-..send r £IOO from the Dominion : td-England you get £95 for it at Home, but £IOO || remitted to New Zealand is worth jA: £lO5 here. If you are in London you cannot arrange with a banker in New-{j Zealand to pay . the shipping ,office .:inM the Dominion for the passage ouL f-| from England. Then again if you $ stay over six months in. England you are liable to income tax for the full i year. ' Mr Barnett expressed the opinion j|? that some way must ibe found to re- • | lieve Australia and. New Zealand from the heavy burden of interest on <jk loans, which have been raised far too v,readily at high rates. - A huge con-«A ‘solidation loan at a low rate seemed to 1 *: him the only solution. He could not_|j| understand why great banking houses -J and investment corporations had im- :./ posed such’ great burdens on oversea Dominions for interest and exchange, yg
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Hokitika Guardian, 30 October 1930, Page 5
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200RATES OF EXCHANGE Hokitika Guardian, 30 October 1930, Page 5
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