AUSTRALIAN CREDIT
BANKING AUTHORITIES CONFER
(Australian Press Association)
MELBOURNE, July 10.
Eminent banking authorities are conferring here on the question whether Australian credit in London can be pooled with advantage. The official exchange rate for the )telegraphic transfer of money to London is still £6 10s per cent. It is understood bankers are discussing a proposal to co-ordinate the availability of the exchange on London to meet the future needs of Australia in rev feet of interest ton oversea debts accruing from time, to time, which if successful, will improve the general financial outlook. It was announced a tentative agreement had been reached, whereby it was intended that as far as .practicable, the Govurnments of Australia should have the first call on Australian credit in London for meeting National obligations. The Conference was unanimous that tlie National credit must he maintained at all costs.
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Hokitika Guardian, 10 July 1930, Page 5
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144AUSTRALIAN CREDIT Hokitika Guardian, 10 July 1930, Page 5
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