AMERICAN ITEMS.

Hokitika Guardian, 9 July 1923, Page 2

AMERICAN ITEMS.

AUSTRALIAN AND N.Z. CARLE ASSOCIATION. THE POUND STERLING. NEW YORK. July 5. The pound sterling has dropped lu 4.55 dollars. INDEPENDENCE DAY CASCAI.TIES NEW YORK. July 5. Twentv persons were killed and 120 injured throughout the country as a result of the fireworks display during Ina.,|M iidmiec Day celebrations. BRITISH WAR DEBT. WASHINGTON, July 7. The laact in the refunding of the British war debt was played to-day when the Counsellor to tlie British Embassy handed over British bonds aggregating $4,000,000,000.

( ANA 1)1 AN REPRESENTATIVE'S. OTTAWA. July 7. Three .Minister.-, the Hons. Gouin, Graham, and Stewart, will represent Canada at the Imperial Conference. RUSH TO CANADA. OTTAWA. July (5. The Canadian Department of Immigmtion and Colonization announces Hint this year 22,140 immigrants have entered Canada this year up to the Ist April, or 21 per cent, of an increase over the same period of 1922. AUSTRALIAN AGENT’S MISSION. NEW YORK, July G. Mr Mac-kin non and family have arrived. lie has assumed the duties of Australian Commercial Repiesontative 10-dny, and goes to Washington in a few davs to present his credentials. Then lie visits the cotton and tobacco growing areas, to study these industries in order to advise the Australian Government concerning sticlt developments a- may he applicable to the Commonwealth. Afterwards Mr Mackinnon ivestigate- such other American rural industries as may oiler an opportunity for iheii introduction into Australia. FARMERS' BANKS. NEW YORK, July 6. Mr Hail Turner has arrived here, after investigating the rural credit organisation of Manitoba. Ontario, and Quebec. He found these organisations are only elementary in the former two provinces, where the majority of these organisations have only between thirty rod one hundred members, and whore the credits run about twenty thousand dollars per organisation. The farmers there depend for their long time credits upon other large banking concerns and only for small matters upon the rural credit organisations. Tlie investigator tools that Australia, which already has its long-time credit organisations. cannot draw many lessons from the rural credit societies ol Canada. There are. however, interesting developments, promising future possibilities which will hear watching.

Mr Ilall Turner points out there have been unusual banning developments in Quebec Province, whore the people's hanks are usually affiliated with Catholic concerns, having large deposits from tile French elements. These banks also advance small loans, which, in total are large, but these hanks have a charitable aspect. Thus Australia would not lie specially interested in them, save from a sociological pointof view. Mr Hall Turner lias visited Washington. where he inquired into the Federal Farm I/iatt Board's work, and investigated the Columbia and South Carolina Branch Batik of this organisation which lie found, dealt at present. childly in long time credits, and is only now beginning to advance intermediate credits. Tlie investigator therefore was unable to obtain any now information.