AUSTRALIAN EXCHANGE
PRECARIOUS STATE OF
AFFAIKS
(.Received Sth February, 2 p.m.)
LONDON, 7th February.
The- Australian rate of exchange promises to remain precarious until next export season, says the newspaper "Statist," failing further borrowing in London. More gold shipments are almost essential to prevent a drastic depreciation of the' Australia £1. It is difficult to foresee a successful issue of an Australian loan in .London and short term borrowing is rrierely postponing the evil day. Commentators on the marketing proposals-express the opinion that it is unlikely that,the British Government itself will buy Australian products in bulk, as the market for them is very doubtful, and it is also doubtful whether Mr. Snowden would find tho millions necessary for such purchases, though possibly the Government might back a public utility company formed for co-operation with the Dominions to handle marketing.
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Bibliographic details
Evening Post, Volume CIX, Issue 33, 8 February 1930, Page 10
Word Count
139AUSTRALIAN EXCHANGE Evening Post, Volume CIX, Issue 33, 8 February 1930, Page 10
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