FINANCES OF AUSTRALIA.
MOBILISING LONDON / CREDITS. OVERSEAS EXCHANGE PROBLEM. (united PBiaa association—by electric TELEOjIAPH—COPYBIOHT.) (Received July 21st, 8.35 p.m.) SYDNEY, July 21. A vital conference of bankers and political leaders was held in Sydney to-day in tho presence of Sir Otto Niemeyer, tho financial expert from the Bank of England who has been called to Australia to advise on the Commonwealth's financial affairs. There were also present Mr J. H. Scullin (the Prime Minister), Sir Robert Gibson, chairman of directors, and Mr E. C. Riddlo, governor of the Commonwealth Bank. Ie conference came to an arrangement so that the available credit overseas will be mobilised at the disposal of the Commonwealth Government. This will pfovide a solution of the difficult problem of overseas exchange which is now confronting Australia, and the various Governments of Australia will have first call on the available funds in tho hands of the banks in London.
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Press, Volume LXVI, Issue 19986, 22 July 1930, Page 11
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151FINANCES OF AUSTRALIA. Press, Volume LXVI, Issue 19986, 22 July 1930, Page 11
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