Banks and the Government’s Policy
CONSERVATIVE ATTITUDE ADOPTED. United Press Association—By Electrlo Telegraph.—Copy righ t. Received Tuesday, 9.50 p.m. LONDON, Jan. 25. Presiding at the Union Bank of Australia’s annual meeting, Mr Hugh Flower, commenting on the improvement of conditions in Australia, said the recovery was resulting iu increased * demands for banking accommodation which were hard to meet without an improvement iu the total deposits. Failing a satisfactory increase in deposits the banks would be obliged to adopt a more restrictive policy towards a< anccs, which would be unfortunate i if it hampered legitimate enterprise. Referring to New Zealand, he said it remained to be seen whether the guaran-, tod price for dairy produce would compensate producers for the increased costs due to other parts of the Government’s policy. It was questionable whether Government control of exchange was in the best interests of the business community and the Dominion. The bank was adopting a conservative policy in New Zealand pending further indications of the Government's policy.
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Manawatu Times, Volume 62, Issue 22, 27 January 1937, Page 4
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166Banks and the Government’s Policy Manawatu Times, Volume 62, Issue 22, 27 January 1937, Page 4
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