NOT CONCERNED
(Press Assn
MESSRS FORBES AND COATES DENY EXCHANGE RUMOURS
. — By Telegraph — Copyright).
Wellington, Friday. Both the Rt. Hon. G. W. Forbes and the Rt. Hon. J. G. Coates, made denials to-d'ay of a statement that the Government was concerned after feceiving the first quarter's returns from the banks for the amount which has to be found for exchange indemnity by the end of the year. Mr. Coates declared that it could be stated quite definitely that neither he nor the Government was concerned in the slightest. There was ho truth whatever in the statement that indications were that the Government would be embarrassed in finding sufficient to indemnify the banks on account of the exchange surplus at the end of the year. It would be entirely misleading to aecept the first quarter's figures hs a true indication of the year's workings. The Government did not anticipate findiiig more on account of indemnity than was first thought. Mr. Forbes remarked, "We will see it through all right,." . The Prime Minister added that there there was nothing abhofmal in the figures to date, and nothing to indicate that the position at the end of the year would be oth'erWise than predicted.
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Bibliographic details
Rotorua Morning Post, Volume 2, Issue 502, 8 April 1933, Page 5
Word Count
201NOT CONCERNED Rotorua Morning Post, Volume 2, Issue 502, 8 April 1933, Page 5
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