TRUE POSITSON
PROFESSOR'S VIEVVS ON CGNDITIONS. IN AUSTRALIA Melbouvne, Sept. 16. Professor D. B. Copland, who ia { dean of ihe Facuity of Commerce at the univer.-ity, giving cvidence be- ; fore the committee which is inquiring i into the wool industry. said Austra- ! liq's depieciated currency has been j extraordinarily helpful to primary pro j duction, wliich also has been aided j by seasonal conditions, exports having i incrtased by 26 per cent. There is j no reason whatever for redueing the ! oxchango rate. The depreciation of | the cuireney had also been accompanied by a reduction of costs. He pointed out that the dc.preciation of the currency and the rise in the exchangc- rate wcre regarded as r.ymptomatic of unsound conditions. At present Australia was 60 per J cent. off the gold standard and 25 per cont. ofi' sterlhig, and any attempt to increase the rate of exchange shoul'd be accompanied by an explanation of the real position.
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Rotorua Morning Post, Volume 2, Issue 337, 26 September 1932, Page 7
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157TRUE POSITSON Rotorua Morning Post, Volume 2, Issue 337, 26 September 1932, Page 7
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