TIME TO MOVE FORWARD
BANK MANAGER’S VIEW EMERGING- FROM DEPRESSION REVIVAL OF ENTERPRISE (Klee. Tel. Copyright—-United Press Assn.) (Received November 25, II 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. 0. Davidson, general manager of the Rank of New South Wales, addressing the Legacy Club. “When, as now, the time to move forward has come it is necessary to prevent, that forward movement developing into another boom, but we must not be afraid to get out of this depression for fear of falling into another. ’ ’
He added that Australia could have confidence that the Commonwealth Bank, in bringing down rates of interest and managing the exchange rate, 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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Poverty Bay Herald, Volume LIX, Issue 17946, 25 November 1932, Page 5
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165TIME TO MOVE FORWARD Poverty Bay Herald, Volume LIX, Issue 17946, 25 November 1932, Page 5
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