Word: wall
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...Gypsum Co. (flooring materials, partitions, wall boards)-$7,538,508. Previous year...
...true, have come to look upon their northern neighbors as a part of the financial fatherland, whereas Australia, with her vulnerable position in case of a great Pacific conflict, and her slightly rosy tint of political radicalism, is distinctly foreign. As a matter of history, Australia first came to Wall Street because London fell out with the legislators of Queensland* over a certain Land Amendment Act which taxed British pastoral investments despite agreements previously consummated which exempted the British security holders from Commonwealth levies. Although 1926 saw this dispute ironed out to London's satisfaction, the successful Queensland issue...
Australia's borrowing policy works out admirably to the advantage of all three parties, Wall Street, London, the Australian Government...
First, for Wall Street: Australia is a first class investment field, a rich, new, underpopulated continent with the stability and wisdom of the greatest world empire behind its expansion...
Fourth, and of paramount importance to Wall Street, London, and Australia alike: U. S. loans to the British Continent of the South Pacific, now at. a total of over $200,000,000, give the three parties a community of political interest in case of war on the Pacific; doubtless, in case of emergency, this tie would play its diplomatic role in preventing a conflict. It is by such co-operation between the Bank of England and the Federal Reserve Bank that great political ends are achieved...