Financial Notes
CONDITIONS IN ALSTRAI.Lk.
THE report of the Commonwealth Bank of Australia for the past year makes cheerful reading, as the Chairman reports a further internal economic recovery in the past year. The balance-sheet of the bank shows a substantial increase in deposits, which are up nearly £11,000,000, while a good feature is the expansion in short-dated loans. At the same time the Chairman, Sir Claude Reading, emphasized the fact that financial, and economic recovery have not yet become world- wide. Moreover, even in Australia itself some of the State budgets have not yet been balanced. The report makes some interesting comment upon European finances, urging that greater reconciliation and reasonable stability between costs and prices and a better relationship between international debts and national incomes must be brought about to make possible a reasonable stability of the exchanges.
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