AUSTRALIAN KINANCE.
SYDNEY, October 21. A suliconiiuittei* of the State Cabinet decided that immediate steps he taken In push ahead with land settlement. It was decided to notify the Commonwealth Government that the State is prepared tu accept .half a million sterling in London which will be tile first instalment of the six million loan, provided for under the migration agreement. It is understood the cost ol transferring of the first instalment will cost between twenty-six and thirty thousand. All banks including tin* Common wealth Bank have agreed upon deiails of a scheme in the nature of wool for exchange. It is anticipated there will be no dilliculty now in financing ilie exnorts ol wool, wheat and other nroducts this season. I nder the scheme, hills on London will lie negotiated a usual and London money so obi allied bv buyers ot bills will be taken bv the banks in a proportion agreed upon and the adjustment of cash rendered necessary in Australia will be made much on the principle of a daily clearing house.
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Hokitika Guardian, 25 October 1924, Page 3
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175AUSTRALIAN KINANCE. Hokitika Guardian, 25 October 1924, Page 3
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