FORWARD MOVE
(Press Assn.
BANKER'S FAITH IN AUSTRALIA'S FUTURE SOUND IN WIND AND LIMB
— By Telegraph — Copyrlght)
Sydney, Nov. 25. "We are getting sounder in wind and limb and we can afford to employ a little more aetivity," said Mr. A. C. Davidson, general manager of the Bank of New South Wales, in addressing the Legacy Club. "When, as now, the time to move forward has jcpme, it will be necessary to prevent that forward movement developing into another boom, but we need nol be afraid to get out of this depressioii for fear of falling into another-" He added that Australia could have confidence that the Commonwealth Bank, iri bringing down the rates of interest and managing exchanges; would know where to stop. He also emphasised that the Central Bank's action, to hold price averages steady at levels admitting of a revival of entelprise was the most hopeful expedient for the relief from the torment of depression in the midst of abuiidance.
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Rotorua Morning Post, Volume 2, Issue 390, 26 November 1932, Page 5
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163FORWARD MOVE Rotorua Morning Post, Volume 2, Issue 390, 26 November 1932, Page 5
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