EXCHANGE LOSS
REFUTED BY MINISTER. ,*2 br Press Association — Copyright J WELLINGTON, April 28. In a statement . to-day in reply to an attack by Mr Salmond, the president of the TjßC3. r A§rs^-Federation r on the exchange issue, the Hon J. G. Coates, said that Mr Salmond’s state* ment was couched lit— extravagant language, which carried its own condemnation. The 'Minister; refuted the assertion that the unemployment lnid increased. The total registrations in January were 67,865, while the . latest returns were 66,652, Mr Salmond had also made an extravagant statement, he said, as to the . loss to the Government, on account of the exchange, giving an estimate of eight millions. The truth was that, under the- terms of the agreement with the bank, the Government had taken over the surplus London funds, but this fund, so far, had not exceeded the amount that was required to meet the Government’s ordinary existing requirements.
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Hokitika Guardian, 29 April 1933, Page 5
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152EXCHANGE LOSS Hokitika Guardian, 29 April 1933, Page 5
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