The effect of the depreciation of sterling in terms of the American dollar on New Zealand's importation of American goods and machinery was emphasised by Mr Alex Harvey, who returned from a visit to the United States. The rise in the exchange value of the dollar, combined with other factors such as war freights and insurances. had added nearly 25 per cent to the pre-war price of anything imported into New Zealand from America. he said. That was a tremendous blow to business, and was’ bound to have far-reaching ell'ects. Already numerous importers who placed orders before the war. and were now obtaining deliveries at the advanced prices, were placed in a very awkward position.
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Wairarapa Times-Age, 10 November 1939, Page 7
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115Untitled Wairarapa Times-Age, 10 November 1939, Page 7
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