AMERICAN EXCHANGE.

Taihape Daily Times, Volume XI, Issue 3429, 8 March 1920, Page 2

AMERICAN EXCHANGE.

NEVV ZEALAND’S GAIN ON . EXPORT.

VV I£LL.TNG'I‘()3{, March 4

One cause for satisfaction over the

11 3g}: 1'21! 0 of <L\'<.<ll:xllgv"\\'3tll I\lnm'ica was nwnfionml in discus.»'ion at tho iC‘hanlb(.|rs of COlllllH‘l‘(,‘k‘ conforellce,

this being a gain to our exporters. ! Mr J. B. Waters (Dunzedin) moved: “That whereas the presen‘t rate of ex'change between I<Torth America and ‘New Zc-tllund is much out of proporgtion to the balance of trade between -I these cotlntries, representations be

made my the associated banks to con

siilor the provision of facilities in Amoi-ica. for ‘the handling of New Zealaml bills of oxcliango af an equitable rate." His own. opinion. he said, was

that it might‘ be best to leave nml'fel's until the general rate between Great Britain and America improved. He doubted whether they could do niuch in New Zealand to alter the condition ‘of affairs. Taking the trade of this country as :1 whole, with £1 gain on exports and 21 loss on imports, he considered the position was not so bad as p2lin‘red. Agziinst the better price re« eeived for exports, like hides and wool, they must set the price paid for articles imported from Anlel'ic:l. Mr .'\. F. Roberts (Wellington) said ‘(l1-ere was ‘only one A'nlel'ican hide buyer in New Zealand, with six pelt buyers, and they varied their I)l'ic(.3s daily according to rates of conversion. Certainly they could afford to give liiglier prices’ than British or local

buyers. Afr J. T. I\la.l'tixl (Wellington) dealt with the other smc. :ho «lisadvantago of buying in America, Money could be made on a fall in conversion. The best market at the present‘ time was in England. and the 'l*llxg‘lisll market would still be the gwatnst buyot‘ for flu”: product's of Hllß country.

Mr S. Kil'kr3aldio VVo]lillgtoll3 Mid i was open to New Zoaland producers to put up their prices to meet the cost 01' <\xcllar_':(\, or hold their goods. .\[r S. Kirkcaldie (Wellington) said ‘rho question would finally be settled by the afljustluont of ex(*}l:lng'(‘ bo-tv.-uc-11 Great Britain and Amm-ica. At presmw the (3xpol'tel' g‘ainod‘2lnd ‘rho cmusumer lost.

Ml‘ R. L_ Pa’rol'son (Napier) said the moral was to buy in NC\\' Zoaland and shut out America.

Mr E. H. C‘l'abb (Palmorstm; North} poimod ou’r that the balal’m- of trade my against New Z0:{la11d with America. Tho rvzlctinn was owning‘ against America.

It was finally decide-d, with tho consent of the mover, that the remit should be withdrawn.