THE EXCHANGE.
—♦
AUSTRALIAN SOLUTION. All the Australian hanks, including the Commonwealth Bank, have agree*: upon a scheme in the nature of a pool, for exchange. It is anticipated thai there will be no difficulty now ii financing exports of wool, wheat, anc other products this season. Under the scheme, bills on London will be negotiated as usual. The Lon don money so obtained by the buyer, if bills will be taken by the banks it proportions agreed upon, and adjust incuts of cash rendered necessary ii Australia will be made much on the same principle of the daily clearing house. The chairman of the Associated Banks of New Zealand, seen by a Dominion reporter regarding this develop ment, said it would not affect exchange conditions in New Zealand, which hae undergone no material change.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/HAWST19241107.2.41
Bibliographic details
Hawera Star, Volume XLVIII, 7 November 1924, Page 5
Word Count
134THE EXCHANGE. Hawera Star, Volume XLVIII, 7 November 1924, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Hawera Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in