MONEYS PART IN RECOVERY.
What extent .the monetary question had contributed to the recovery oi Australia? The question was asked of Mr.' McKerison, • president of- the Rural Bank of Ne\y South Wales, by the. Banking Royal Commission. He replied .that, the, rise in ekport prices in. the present financial'vear had definitely played' a large part in the rapidity oi -recovery. Monetary factors had ■' also played a large part in the course of recovery. Banking and other monetary institutions were affected by the fall in world prices which caused the depression. Looking back it could be seen that delay in applying- certain monetary policies aggravated the depression. From the point of recovery in 1932 monetary policies nad been such as."to promote that recovery. .■:■■-'■••• . ■ ■ - .
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Evening Post, Volume CXXI, Issue 107, 7 May 1936, Page 12
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122MONEYS PART IN RECOVERY. Evening Post, Volume CXXI, Issue 107, 7 May 1936, Page 12
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