MR. CHIFLEY EXPECTS RECESSION IN SOME FORM WILL TAKE PLACE
CANBERRA, May 31 (Recd. 10pm). —The Prime Minister (Mr Chifley) said in the House of Representatives that because of the very great spiralling of prices throughout the world he had always believed that some measure of recession would take place although he would not attempt to predict how much. As a buttress against the effects of a depression, Australia had a stable economy and had built up external balances so as not to be short of sterling to pay for capital goods- and to provide through the National Works Council for a programme of public works which would give effect to a policy of full employment.
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Wanganui Chronicle, 1 June 1949, Page 5
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116MR. CHIFLEY EXPECTS RECESSION IN SOME FORM WILL TAKE PLACE Wanganui Chronicle, 1 June 1949, Page 5
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