ECONOMIC NATIONALISM MEANS ECONOMIC LOSS.
COMMENT BY CHAIRMAN OF N.S.W. BANK. (By Telegraph-Press Asss.-Copyright.) Received Friday, 10.30 p.m. SYDNEY, Nov. 30. Addressing the annual meeting of shareholders of the Bank of New South Wales today, the chairman (Mr. T. O. Buckland) said Australia had' made substantial and important steps towards recovery, but there were no grounds so far which would justify complacency, while the trend of events abroad had done little to make Australian problem scasier. The habit of placing quantitative limitations upon imports had dangers for the Commonwealth and New Zealand, which were likely to suffer serious losses. Economic nationalism was the major cause of the setback and nobody could seriously doubt that economic nationalism meant economic loss. The bank's balance-sheet disclosed a net profit for the year rtidod September 30 of £439,738, compared with £439,616 last year. The dividend is unchanged at 5" per cent, and requires £439,000. Deposits show an increase of £5,523,000, while Treasury bills _ amount to £6.455,000. representing, a decline of £3J743,000. _^
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Horowhenua Chronicle, 1 December 1934, Page 8
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167ECONOMIC NATIONALISM MEANS ECONOMIC LOSS. Horowhenua Chronicle, 1 December 1934, Page 8
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