OUR TRADE OUTLOOK
YEAR 1940 LIKELY TO BE TESTING TIME. ACCORDING TO LONDON PAPER. By Telegraph—Press Association— Copyright. LONDON, April 20. The “Financial News,” commenting today on the New Zealand exchange restrictions, says: “It is doubtful whether the reduction in imports is sufficient to compensate for the further deterioration in exports. “Moreover, the recovery of the London funds so tar is unimpressive. The long-term effect of Mr Savage’s policy must impair New Zealand’s ability to export. “Attempts to reduce unemployment by means of public works have been carried to extreme limits which must result in inflation unless the Government cuts down public work, restricts imports proportionately to the decline in exports, and reduces the guaranteed price of dairy produce. “The year 1940 is likely to be a testing time for New Zealand’s finances unless commodity prices substantially recover.”
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Wairarapa Times-Age, 22 April 1939, Page 3
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138OUR TRADE OUTLOOK Wairarapa Times-Age, 22 April 1939, Page 3
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