EXCHANGE RATES
—♦ POSITION IN AUSTRALIA INCREASE CONDEMNED. Press Association—By Telegraph—Copyright. SYDNEY, April 14. Bankers and business. men condemn the suggestion that there should be an increase in the exchange rate on London. Bankers assert that such a course is unjustified by the prevailing conditions. There is no abnormal demand for London money, and no difficulty has been experienced in buying all that is required at current rates. Any advance in the rate would, they claim, considerably increase the taxation burden. The present high rate had already reduced the import trade, while the effect on internal prices would bo to increase the cost of living. Business men argue that the Commonwealthy Bank, which is already handling the position satisfactorily ? should be subjected to no political interference.
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Bibliographic details
Evening Star, Issue 21078, 15 April 1932, Page 9
Word Count
125EXCHANGE RATES Evening Star, Issue 21078, 15 April 1932, Page 9
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