THE LONDON VIEW
exchange problems Rec. Jan. 19, 7 p.m. London, Jan. 19. The Financial News discussing the Hon. Downie Stewart's resignation says, it is significant that all along he opposed any arbitrary tampering with the exchange. If the Government has decided that the- rate should be raised in order to help farmers, they will find themselves faced with many new and diffieult problems. If a change in the rate is imposed on the banks, the Government will find, soonex or later, that it will be obliged to undertake the purchase from them of any surplus exchange as did the Commonwealth Bank a year ago. Moreover, primary producers will only benefit for a time. Ultimately domestic prices must rise and moreover the increase will he- a moral breach of the Ottawa agreement.
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Bibliographic details
Rotorua Morning Post, Volume 2, Issue 435, 20 January 1933, Page 5
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132THE LONDON VIEW Rotorua Morning Post, Volume 2, Issue 435, 20 January 1933, Page 5
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