AUSTRALIAN GOLD
AND ENGLISH STEELING. A TRANSFER MEASURE. (Received Thursday, 8.30 a.m.) CANBERRA, This Day. Tlie Commonwealth Bank Amendment Bill was read a second time in tlio House of Representatives. It empowers the Government to transfer the whole of the Australian gold reserve into English sterling. Mr Stanley Bruce, Assistant Treasurer, explained that as the Commonwealth Bank Board controlled the exchange it could be relied upon to deal with it in the manner best calculated to maintain the credit of Australia. The measure provides that any profit from the sale of gold and purchase of sterling should bo transferred to a special reserve account and be available for fertilising the exchange or for the Note Issue Department. Financed by the British banker, Sir Erie Ilambro, the first British plant for the commercial production of petrol from coal is being constructed at Sheffield, England. »
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Wairarapa Daily Times, 12 May 1932, Page 5
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143AUSTRALIAN GOLD Wairarapa Daily Times, 12 May 1932, Page 5
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