Fiji Traders Urge Sterling Parity

But Gov’t. Refuses

From Our Owd Correspondent

Suva, Aug. 30.

THE atomic effects on Fiji of New Zealand’s return to currency parity with sterling were evident when a crowded meeting of the Suva Chamber of Commerce almost unanimously passed a motion calling on the Government to re store Fiji’s currency to the sterling level.

The motion was immediately forwarded to the Colonial Secretary with a request that it be transmitted to London.

In this move the Suva body has the unqualified support of Lautoka and Levuka. The Suva Indian Chamber’s identical resolution had been transmitted earlier.

It was clear from the start of the Suva meeting that an enormous majority of the members, including most of those representing the big trading interests, wanted exchange adjustment.

Mr. A. H. Marlow, head of Fiji Builders Ltd, moved the motion and de scribed Fiji’s 11 per cent, exchange depreciation as an artificial barrier to purchasing power. During the American occupation, he said, Fiji had been selling 5/2 worth of goods and services for 4/2.

Both Mr. Marlow and the seconder, Mr.

J. M. Hedstrom, stressed the' fact that Fiji is the only British Crown Colony with a depreciated currency.

Sir Maynard Hedstrom summed up the views of many of the speakers when he

said: “The currency was depreciated (in 1933) to help the sugar and copra indus tries. I think it has served its purpose, and the general public are now suffering because of increased prices.”

A SOLID majority obliterated an amendment by Mr. W. G. Johnson (W. R. Carpenter & Co., Fiji) sug gesting that representatives of the Chamber of Commerce should meet representatives of the sugar and goldmining industries and the Financial Secretary to discuss the situation.

The president (Mr. Alport Barker) pointed out that the Chamber did not profess to speak for any interests other than the commercial community of Suva.

Mr. John Trotter (Burns Philp (SS), Ltd.) charged both Mr. Johnson and Mr.

P. Costello (who had said that, when dealing with exchange, the meeting was a collection of “amateurs talking about something we know nothing about”) with obscuring the issue.

“The thing is simple,” said Mr. Trotter, “for 15 years Fiji currency has been de preciated for the benefit of the producers, and to-day the producers are receiving the highest prices they have ever had, while the man in the street is paying through the nose.”

SUVA. Sept. 7.

The Fiji Government announced that there will be no alteration in the currencv exchange rate.