AMAZING STATE OF AFFAIRS
AUSTRALIANS FORUED TO STOP AT HOME.
HICH EXCHANCE RATES.
(United Press Association—By CableCopyright.] (Received 7, 11.5 a.m.) Sydney, March 7.
It is now practically Impossible for Australians to take holiday trips abroad. This amazing state of affairs is duo to the high rate of the London exchange and the decision ef ths Commonwealth Bank to prohibit the cashing of Commonwealth notes overseas.
The difficulty has arisen by reason of Australia’s reduced exports of primary products, which are realised on in London and provide ' our oversea balances. These become depleted and an adverse balance has been increased by heavier imports. Moreover a substantial increase In official rates is likely in the near future.
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Hawke's Bay Tribune, Volume XX, Issue 71, 7 March 1930, Page 5
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116AMAZING STATE OF AFFAIRS Hawke's Bay Tribune, Volume XX, Issue 71, 7 March 1930, Page 5
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