SIR JOSEPH WARD ENTERTAINED.

Manawatu Herald, Volume XLII, Issue 2130, 20 May 1920, Page 3

SIR JOSEPH WARD ENTERTAINED.

BY COMMERCIAL TRAVELLERS. "Wellington, May 18. Sir Joseph Ward was fareAvelled by the Commercial Travellers’ Club this afternoon. It Avas a most enthusiastic gathering, the chairman of Avhieh made it clear that they Avere farewelling Sir Joseph Ward as a member of the Association and a successful business man, rather than as a politician. In the course of his reply, Sir Jor soph Ward said he Avas going to England for the first time in 33 years as a private individual, and he appreciated the freedom very much. One of the things on Avhich.he intended to talk with friends of his in the United States and England Avas the adverse exchange rate, especially as it affected Ngav Zealand. Ho would tell his friends in the States his opinion of the folly of trying to maintain such a high adverse rate, Avhen the trade of both countries must suffer by it. He expressed the opinion that avg Avonld have to get en entirely ucav set of conditions to meet the altered situation, and that avo must make up our minds that it Avould no longer be possible to have all onr exchange clearance through London, because it Avas obvious that, a very productive country like Ncav Zealand ought not to be penalised on account of the adverse rate for the time being across the Atlantic. He was quite certain that New Zealand banking institutions Avould have established branches in the United Stales, and in turn the United States banks should be allowed to establish branches here.