After interest had been charged, prot of the Australian Postal De-Partment last year was £2,407,973.
The total revenue, £14,168,570, was a record, It was an increase of '707 per cent, over the previous year and beat the record year, 1029-30, £006,629, The cost of running the department, including interest, was £9,713,990, increase of £521,077.
'AIL branches had flowing revenues, 'The postal branch revenue was £6,328.841, the profit being £1,828,- 219." The telegraph revenue' was £1,390,712, and the profit £15,01 Telephones: returned £6,137,413, and the profit was £402,332.
The wireless branch earnings were 2371904, and the surplus was £162,343.
For the year the total financial turnover of the department was £147,328,000. This included money orders, £15,185471; postal notes, 26,650,241 (on these two items the department made £248,211 in commission), and Savings Bonk deposits, Interest Rates and Cheap Money When the increase of one half of one per cent, in bank deposit rates was announced late in March, the opinion was freely expressed that the "cheap money" period had ended, and that, Jacking the stimulus of low Interest rates, industrial activities would ease, 'The National Bank of Australasia, its latest review of trade and fin: ance, states that this view would be Justified in times when' trade was making little progress or was on the down grade, But in times like the present, when progress 1s being made by nearly all lasses of industry and trade, bank states, terest rates' has fluence. It should, howe ye some corrective effect on sections of industry and trade which are, of are tending to become, over-extended.
Trade statistics and Information for April support this conclusion, In= Gustry and commerge continue 10 Fecord satisfactory figures, and, on resent indications, the winter decline will be ess pronounced and shorter: than usual,"
Text read from the printed page and cleaned; old type leaves the occasional error.