BANKER REPLIES
TO MR THEODORE’S STATEMENT. United Association—By Electric Telegraph.—Copyright.) SYDNEY, May 6. Replying to Mr Theodore’s remarks about, the banks, cabled yesterday, Mr A. C. Davidson, General Manager of the Bank of New South Wales, saw if as suggested, the banks paid out a hundred million pounds, they could do it either by credit extensions or drawing on the Commonwealth Bank for notes. The effect, however, would he sheer inflation.. It it were done the purchasing power of a pound note would be reduced to (is Bel and the burden would fall most heavily on wage earners.
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Hokitika Guardian, 6 May 1931, Page 5
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98BANKER REPLIES Hokitika Guardian, 6 May 1931, Page 5
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