NO FUR OF DEPRESSION.
AUSTRALIAN BANKER CRITICISES PESSIMISTS (■■R-y TfllegrMT)b-' D reas Assn.-Copyright) Received Tuesday, 7.42 p.m. SYDNEY, July 12. Addressing delegates to the Agricultural Bureau Conference at Hawkesbury College, Mr. C. R. McKerihan (president, of the Bank of New South Wales)' deprecated the whispering about the likelihood of another depression in the near future, which, he said, was quite unwarranted; He said persons in responsble positions were chiefly responsible for creating the fear complex. Because credit was a bit scarce compared with this time last year, super pessimists were apt to jump to the conclusion that another depression was imminent.
‘"’The position calls for no alarm,” said Mr. McKerihan. “It is entirely due to increased imports. ’ ’
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Horowhenua Chronicle, 13 July 1938, Page 8
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117NO FUR OF DEPRESSION. Horowhenua Chronicle, 13 July 1938, Page 8
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