AUSTRALIAN TRADE.
LONDON, August 21. The Times’ city editor says the period of greatest stringency in the Australian exchange appears to have passed. The banks in Austral ra have lately experienced a keen demand for accommodation to finance exports, particularly late shipments of wool. These have been commanding high prices, partly as a result of German bidding for merinos, the provision of credits therefore be.ng largely supported by the German Government by means of credits sterling from 60 per cent. The German lax on exports and the depreciation of the mark will not in-
terfere with such transactions, the German exporter procuring payment in foreign currencies and handing over the required proportion to the Government in sterling dollars or other currencies. In order to increase ability to meet these demands Australia, ou behalf of exporters and the Australian banks, is naturally encouraging exports from England to Australia. These have considerably expanded lately. The immediate future holds the probability of a more evenly-balanced trade position.
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Bibliographic details
Wanganui Chronicle, Volume LXXVI, Issue 18566, 23 August 1922, Page 2
Word Count
164AUSTRALIAN TRADE. Wanganui Chronicle, Volume LXXVI, Issue 18566, 23 August 1922, Page 2
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