REPLY TO THEODORE
ASSOCIATION CHAIRMAN
GREAT STRAIN ON CREDIT
MELBOURNE, 19th April. Replying to Mr. E. G-. Theodore's letter to the Commonwealth Bank Board, Mr. C. H. Tranter, chairman of the Associated Banks, described it as a clever piece of political propaganda. It ignored the actual position, and contained much clap-trap." . Mr. Tranter pointed out that the credit of tho trading banks had been strained by £6,785,840 in the past eighteen' months, within which period the resources of- those banks had decreased £23,000,000 by a reduction in deposits. Indeed, credit had been strained to a point beyond which it would be unsafe to trade. ,The Federal Treasurer's letter would further tend to disturb the public.
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Evening Post, Volume CXI, Issue 92, 20 April 1931, Page 7
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115REPLY TO THEODORE Evening Post, Volume CXI, Issue 92, 20 April 1931, Page 7
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