AUSTRALIA’S CREDIT
QUESTION OF POOLING EMINENT BANKERS CONFER I NTEREST ON OVERSEA DEBTS. (United Press Association—By Electric Telegraph Copyright). Received! 12.15 p.m. to-day. MELBOURNE, July 10. Eminent banking authorities are conferrin ghere on the question of whether Australian credit in London can be pooled with advantage. The official exchange rate for the telegraphic transfer of money to London is .still £6 10s per cent. It is understood that the hankers are discussing a. proposal to co-ordinate the availability of exchange on London to meat the future needs of Australia in respect of interest on oversea debts from time to time, which, if successful, will improve the general financial outlook. It was announced that a tentative agreement had been reached whereby it was intended that, as far as. practicable, the governments of Australia should have first call on Australian credit in London for meeting national obligation. The conference was unanimous that national credit must be maintained at all costs.
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Hawera Star, Volume L, 10 July 1930, Page 9
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158AUSTRALIA’S CREDIT Hawera Star, Volume L, 10 July 1930, Page 9
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