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Thursday, 30 April 1936

Senator LECKIE (Victoria) .- Honorable senators are losing sight of the object of exchange. If the duty remained normal when the exchange rises, exchange would have no effect on the duty, and its value as a regulator of trade between countries would be lost altogether. In ordinary circumstances the only reason for raising the rate of exchange is to regulate international trade. If it does not act as a regulator, goods can come in at the same rate and at the

Fame cost as before. Therefore I think that the Government and the Tariff Board are wise in proposing this provision.

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