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Wednesday, 14 October 1931


Mr THEODORE - An amount of about £200,000 became due in New York on the 1st October. As there is no exchange market in that city for Australian currency, payment had to be remitted through London, and the Commonwealth was mulct in heavy exchange discounts on both Australian sterling and English sterling. This heavy burden on the taxpayer will, we hope, be lightened as the exchange position improves.







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