WOOL ACCUMULATION.
DANGER OF LYING IDLE. (Received 1.5 p.m.) MELBOURNE, This Day. An official statement on behalf of the Associated Banks of Victoria says that wool valued at £60,000,000 is in danger of lying idle in Australia if the representations of the bankers to the Commonwealth Notes Board are unsuccessful. A bank official states that the trouble is that the country's requirements have increased enormously, while the currency has not increased in proportion. During the last two years deposits increased by over £30,000,000, yet the banks were actually working on less currency.—A. and N.Z.
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Bibliographic details
Northern Advocate, 31 July 1924, Page 5
Word Count
94WOOL ACCUMULATION. Northern Advocate, 31 July 1924, Page 5
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