RATES OF EXCHANGE
Per Press Association.
GREAT BURDENS ON D0MIN10NS. ADVERSE CONDITIONS.
AUCKLAND, This day. "The adverse rate of exchange is driving New Zealanders hack to their own country," said Mr M. C. Barnett, formerly assistant public trustee, who returned from abroad. "If you send £100 from the Dominion to England yon get £95 for it at Home but £100 remitted to New Zealand is worth £105 here. If you are in London you cannot arrange with faankers in New Zealand to pay shipping offiees in the Dominion for a passage out from England. "Then again, if you stay over six months in England you are liable to income tax for a fnll year." Mr Barnett expressed opinion that some way must be found to relieve Australia and New Zealand from the heavy hurden of interest on loans which have been raised far too readily at high rates. A huge consolidating Joan at a _low rate seemed to him the only solution. He could not understand why great hanking houses and investment corporations had imposed sudi great hurdens on oversea dominions for interest and exchange.
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Daily Telegraph (Napier), Volume 59, Issue 229, 30 October 1930, Page 5
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185RATES OF EXCHANGE Daily Telegraph (Napier), Volume 59, Issue 229, 30 October 1930, Page 5
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