Australia Will Not Vary Rote
; CANBERRA. Wed.—lt is learned authoritatively that the Prime Minister (Mr Chifiey). addressing the Premiers in a closed session of tjie Loan Council, stated: “Australia will not vary its exchange rate with sterling unless sterling is depreciated.” He added that in spite of import restrictions imports from the United States this year would be a record.
Australia had on order large quantities of machinery, both in the United States and Canada. The Government was constantly watching to see what further dollar economies could be made.
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Northern Advocate, 25 August 1948, Page 6
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89Australia Will Not Vary Rote Northern Advocate, 25 August 1948, Page 6
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