EXCHANGE RATE
1 VIEWS OF BANK PRESIDENT.
(United Press Association—By Electric y Telegraph—Copyright.)
(Received this dav at 9.25 n nil : LONDON, July 13. At the National Bank of New Zea•Jjuid meeting, Sir Austin Harris, presidihgj said the attempt to force up exchange for the benefit of producers appears to disregard the interests of the i rest of the community. Indeed, the considered opinion of nil other banks was that a, temporary depreciation in exchange would be outweighed by the ultimate disadvantages accruing, not only to producers themselves, but the whole community, in the form of increased cost of Government finance, increased costs of imports, rise of internal prices, increased wages, loss ot .customs revenue and lowering of the Dominion’s credit.
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Hokitika Guardian, 14 July 1932, Page 5
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120EXCHANGE RATE Hokitika Guardian, 14 July 1932, Page 5
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