AUSTRALIA’S RECOVERY
IMPROVEMENT 1 IN CREDIT MELBOURNE, Sept. 2(5. Speaking at the luncheon at the Royal Show, the Minister of Commerce, Mr Stewart, said the Lyons Ministry was entitled to approbation for the way it had helped to restore the credit of Australia. In 1931, Australian stocks could be bought in London at £SB, but to-day their price was 2110. In 1931, f>£ per cent Government stocks in Australia could be bought for .£74 Ins, but to-day, although the rate of interest had been reduced from Til to 4 per cent, those stocks were selling at £lO4 10s. Not only had the Federal Government been able to balance its Budget, but it was going to pnako substantial remissions of taxation.
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Poverty Bay Herald, Volume LX, Issue 18208, 2 October 1933, Page 10
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120AUSTRALIA’S RECOVERY Poverty Bay Herald, Volume LX, Issue 18208, 2 October 1933, Page 10
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