NO INTERFERENCE
AUCKLAND RE JRESENTATION S Auckland, Monday. A meeting of Auckland importers and merchants to-day, unanimously passed a resolution endorsing that th'e Government's policy' of non-ihter-ference in the exchange rate, and asserted that a high rate was without economie justification, and would be detrimental to the Dominion. Some discussion was heard on the question of whether a high rate has benefited Australia. Mr. J. B. Donald said Australia today was living on overdrafts, and a day of reckoning was bound to come. There was too much p'aper money. The chairman, Mr. Gainor Jackson, said Australia was reducing taxation in one way, but at the same time she was arranging for a £2,500,000 bonus to wheatgrowers, and there was also a bounty for butter. He prophesied that if the exchange rate was forced up here, a reaction would come inside 12 months.
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https://paperspast.natlib.govt.nz/newspapers/RMPOST19321122.2.32.2
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Rotorua Morning Post, Volume 2, Issue 386, 22 November 1932, Page 5
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142NO INTERFERENCE Rotorua Morning Post, Volume 2, Issue 386, 22 November 1932, Page 5
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