FEDERAL FINANCES
BANKERS’ CONFERENCE MELBOURNE, July 10. Eminent banking authorities are con ferring here an the question of whether Australia *s credit in London can be pooled with advantage. The official exchange rate for the telegraphic transfer of money to London is still £6 10s per cent. It is understood that the bankers arc discusring a proposal to co-ordinate the availability of exchange on Australia in respect of interest on overseas debts occurring from time to time which if successful will improve the general fin ancial outlook. It was announced that & tentatipe agreement had been reached, whereby it was intended that as far as practicable the Governments of Australia should have first call on Australian credit in London for meeting national obligations. The conference was unanimous that the national credit must be maintained at all costs.
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Wanganui Chronicle, Volume 73, Issue 314, 11 July 1930, Page 7
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136FEDERAL FINANCES Wanganui Chronicle, Volume 73, Issue 314, 11 July 1930, Page 7
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