FINANCIAL COMMENT
ON AUSTRALIA’S POSITION.
[United Press Association —By Electric Telegraph.— Copyright.]
(Received this day at 10.30 a.m.) LONDON, January 18.
The “Observer” in an editorial, welcomes Mr Scullin’s declaration against inflation of the Loan Council’s three year plan, and points out the question is whether Mr Scullin or Mr Lang will be master is still undecided. The financial editor says in order to evade exchange, people not connected with industry are buying goods in Australia and shipping and selling them in Britain. Others are buying bank shares in Australia and transferring them to the London register and selling them here. The exchange problem wont be overcome quickly, but with firmness on the part of Mr Scullin it will ultimately be remedied. Meanwhile the holders of Australian stock should not sell at the present prices.
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Hokitika Guardian, 19 January 1931, Page 5
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135FINANCIAL COMMENT Hokitika Guardian, 19 January 1931, Page 5
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