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Thursday, 21 May 1970

Debate resumed from 19 March (vide page 649), on motion by Mr Bury:

That the Bill be now read a second lime.

Mr CREAN(Melbourne Ports) [9.40J- 1 did not realise that this Bill would come on for debate quite so suddenly. The purport of it is to increase the quotas in the International Monetary Fund by approximately 36%, or a little more than onethird in total, from SUS21.3 billion to $US28.9 billion. The Australian Labor Party has always supported the inter- national Monetary Fund as an organisation designed to look after the short term difficulties of international liquidity. In recent times we have seen the interesting development of the special drawing rights which are sometimes described as paper gold.

Mr Bury - 1 also was caught by surprise.

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