DEVALUATION OF CURRENCY
Party’s Proposal For Australia (N.Z.P. A. -Reuter— Copyright) CANBERRA, Jan. 31. The Democratic Labour Party yesterday proposed devaluation of the currency, and reimposition of import restrictions to halt the reduction in Australia's foreign exchange reserves. The proposal was approved by the party’s annual conference, after a discussion of the economic situation. The president (Mr John Atkins) said delegates realised devaluation of the currency might discourage foreign investment in Australia, but believed the adverse affect would be outweighed by the expansion of exports which would result from devaluation.
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Bibliographic details
Press, Volume C, Issue 29427, 1 February 1961, Page 19
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90DEVALUATION OF CURRENCY Press, Volume C, Issue 29427, 1 February 1961, Page 19
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