EMPIRE’S BANKING.
CLOSER RELATIONS URGED. London, March 25. The Times, in a leading article, welcomes the nomination of a Canadian business man to the Bank of England directorate as marking a new era of closer co-operation with banking in the British Dominions, which is urgently desirable in the interests of Empire trade. During the war, closer relations existed between the Bank of England and the United States Federal Reserve Board than with any of the Dominions, owing to the fact that the latter did not possess central reserve banks in South Africa and India, a deficit which has since been remedied.
Australia has attempted to combine the responsibilities of central banking with the obligations of Commonwealth banking, but experience has shown that this is impossible.
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https://paperspast.natlib.govt.nz/newspapers/TDN19210409.2.66
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Taranaki Daily News, 9 April 1921, Page 7
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125EMPIRE’S BANKING. Taranaki Daily News, 9 April 1921, Page 7
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