RATES OF EXCHANGE.

Taranaki Daily News, 20 March 1920, Page 9

RATES OF EXCHANGE.

AND AMERICAN TRADE ' A POSSIBLE REMEDY. ' | Iu a statement regarding the fall of the American exchange, a Chrfstchurch merchant who lately returned from a business visit to the United Slates said it was practically certain that once the Imperial commandeer is lifted from the Dominion's chief primary products there will be a considerable export to America. There is an excellent market for wool, mutton, dried milk and other lines. Mutton can be disposed of on the West Coast of America, and possibly butter as well. This is contingent on there being no big combines, which could prevent marketing. The fall in exchange is, of course, due to an excess of exports from America over imports. New Zealand exports would make little difference in the ordi nary way, because London is the clearinu house, and exchanges are regulated from there, but indications now are that merchants are likely to become their own clearing houses—that is to say, in the case of a firm importing such a line as petrol it may in turn export wool, or make certain arrangements with another firm which is exporting to a consignee of wool under instructions, that instead of forwarding drafts for payment to New Zealand, he would pay the exporter of petrol. The exchange problem by +hig wethod ' ean lawelr he overcome