FIGHT FOR POSITION

Hawera Star, Volume L, 10 January 1931, Page 5

FIGHT FOR POSITION

AUSTRALIA’S FALLEN CREDIT

AVENUE OF ASSISTANCE

LONDON JOURNAL’S APPEAL

.United rites Association —By Electric Telegraph Copyright!. Received 11 a.m. to-day. LONDON, Jan. 9. The •‘Financial News” says the market for Australian stocks is more difficult and dealers have found it impossible to handle all offered. ‘Tt was impossible even, at one time, to get- a bid for New South Wales and Victorian loans,” continues the “News.” “The former were most- unpopular and the public’s selling orders were definite that yesterday’s prices had to ho taken to avoid the risk of worse. “Australia’s exchange depreciation has made a deep impression on the public, whose memory of the poist-war currency troubles in Europe is lively enough to cause grave fears.” Urging that it was time Britain took cognisance -of Australia’s magnificent fight to re-establish her position, the “Daily Express” complains that affairs "of Empire take, second place in the ' Citv of London compared with those of almost any other country. The editorial points out that an Australian wishing to buy £IO,OOO .worth of electrical equipment in Britain has to nay £11.250. “We here have not only huge hoards of unused money, hut the power of extending credit is almost limitless, and the time has come when the money masters of the citv should excute a change of front and assist Britain and Australia by abolishing the tax on Anglo-Australian commerce represented by the difference in exchange.” states the “Express.” ____________