RATE OF EXCHANGE
TON GAN PREMIER’S PROTEST.
AUCKLAND, December 7
The exchange rate question evidently agitates even the people of the happy island of Tonga. The Prime Mi nisei- and Piince Consort, the Men Tugi, who arrived to-day said: “We owe you not a penny. Why then, should there be such a high rate of exchange ? We want t 1 continue to trade with New Zealand, which is our natural market. We aimed at sending bananas to New Zea. land and creating a credit so that we could do general business with jou. As soon as we did that a quota nas lixed limiting the quantity of bananas ~o could send.
“This drives our trade to Australia and elsewhere; where there is no adverse exchange rate. It r.b-solutel.* cuts us adrift from New Zealand as a market.” He added that he intended to consult the New Zealand Government on the subject.
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Hokitika Guardian, 9 December 1932, Page 7
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151RATE OF EXCHANGE Hokitika Guardian, 9 December 1932, Page 7
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