HIGH EXCHANGE
(Press. Assn.-
helps farmers at expense of remainder of community
— By Telegraph — Copyright) .
Rec. July 13, midnight. LONDON, Wednesday. At the National Bank of New Zealand meeting, Sir Austin Harris, who presided, said. "An attempt to force up exchange for the benefit of producers appears to disregard the ipterest of the rest of the community. It is the considered opdnion of all the other banks that a temporary depreciation of exchange woukd, he outweighed by the ultimate disadvantages, not only to New Zealand itsself, but to the whole community in the form of increased cost of Government finance, increased cost of imports, a rise in internal prices, an increase in wages and a loss of customs revenue, and the lowering of the Dominion's credit."
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Bibliographic details
Rotorua Morning Post, Volume 2, Issue 274, 14 July 1932, Page 5
Word Count
126HIGH EXCHANGE Rotorua Morning Post, Volume 2, Issue 274, 14 July 1932, Page 5
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