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Thursday, 11 December 1930

Senator THOMPSON - No government would be able to pay £1 an ounce on such large quantities of gold. There would likely be no exchange advantage then as there is now ; I "hope that there would be no serious financial trouble.

Senator Daly - If we opened up some good mines, we should not have such heavy exchange rates.

Senator THOMPSON - That is so. Possibly some modification of the proposal is desirable in the direction of reducing the period for which it will operate. Apart from that latent doubt in my mind, I have a great deal of pleasure in supporting the bill.

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