“GETTING SOUNDER.”
MORE ACTIVITY NEEDED. LEADING BANKER’S ADVICE. Received November 25, 8.40 a.m. SYDNEY, Nov. 25. “We are getting sounder in wind and limb; we can afford to employ a little more activity,” said Mr A. C. Davidson, general manager of the Bank of New South Wales, when addressing the Legacy Club. “Now that the time to move forward has come it is necessary to prevent that forward movement developing into another boom, but we must not bo afraid to get out of this depression for fear of falling into another.” Mr Davidson added that Australia could have confidence that the Commonwealth Bank, in bringing down rates of interest and managing exchanges, would know where to stop. He also emphasised that central bank action to hold price averages steady at levels admitting of a revival of enterprise was the most hopeful expedient for relief from the torment of depression in the midst of abundance.
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Manawatu Standard, Volume LII, Issue 307, 25 November 1932, Page 7
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154“GETTING SOUNDER.” Manawatu Standard, Volume LII, Issue 307, 25 November 1932, Page 7
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