AUSTRALIA BANKRUPT
POSITION EXAGGERATED
HAVE BANKS THE POWER?
LONDON, 18th August.
Australian financial circles protest' strongly against the statements contained in a Sydney cable message appearing in the "Daily Telegraph." They are particularly surprised at a statement by political writers pointing out: "Three London banks, in addition to the Bank of England, could call up the Commonwealth overdraft* and make Australia bankrupt,"
This is an exaggeration of the posi» tion, they declare, and it is outside th# power of any banks to take such ex« treme action, even if desired, ■
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Bibliographic details
Evening Post, Volume CX, Issue 44, 20 August 1930, Page 9
Word Count
90AUSTRALIA BANKRUPT Evening Post, Volume CX, Issue 44, 20 August 1930, Page 9
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