FINANCIAL PROBLEMS
CONFRONTING AUSTRALIA. (By Telegraph—Press Assn.—Copyright.) MELBOURNE, July 31. 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 the deposits increased by over £30,000,000, yet the banks are actually working on less currency.
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Southland Times, Issue 19311, 1 August 1924, Page 5
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91FINANCIAL PROBLEMS Southland Times, Issue 19311, 1 August 1924, Page 5
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