AUSTRALIA’S RECOVERY.
“SOUND IN WIND & LIMB.” A BANKER’S DECLARATION, TIME TO MOVE FORWARD, United Press Assn.—Elec. Tel. Copyright. (Received Nov. 25, 9.40 a.m.) SYDNEY, Nov. 25. “We are getting sounder in wind and limb and we can afford to employ a little more activity,” said Mr A. C. Davidson, general manager of the Bank of New South Wales, in addressing the Legacy Club. “ When, as now, the time to move forward has come, it will be necessary to prevent that forward movement developing Into another boom, but we need not be afraid to get out of this depression for fear of falling Into another.”
He added that Australia could have confidence that the Commonwealth Bank, in bringing down the rates of interest and -managing exchanges, would know where to stop. He also emphasised that the Central Bank’s action, to hold price averages steady at levels admitting of a revival of enterprise was the most hopeful expedient for the relief from the torment of depression in the midst of abund« ance.
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Waikato Times, Volume 112, Issue 18802, 25 November 1932, Page 7
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170AUSTRALIA’S RECOVERY. Waikato Times, Volume 112, Issue 18802, 25 November 1932, Page 7
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