THE FINANCIAL CENTRE.
LONDON'S POSITION FIRM.
OPINION OF A BANKER.
Received Juno 25, 8.35 p.m.)
LONDON. JUNE 26. Baron Revelstoke, one of the directors of the, Bank of England, in an interview with an American correspondent, said :— "After two years ■ of war, waged in a more exhaustive ! manner than any nation anticipated, . the edifice of London's credit stands I firm. London remains the world's j financial clearing-house, and the delicate banking machinery is working I smoothly. This is chiefly due to the j Treasury's courageous policy in the I first months of the war. The main- | tenance of' our exports, which are ! the key to the position, has been | possible owing first to the navy, [ secondly to the Government's sound j financial policy, and, thirdly, to the j use of the great reserve of women's | labour previously untouched. Engj land does not begrudge America's i gain in financial strength since 1914. Both nations believe in using their ! money for the development of newer j countries, thu3 increasing the j world's prosperity."
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Bibliographic details
New Zealand Herald, Volume LIII, Issue 16266, 27 June 1916, Page 8
Word Count
171THE FINANCIAL CENTRE. New Zealand Herald, Volume LIII, Issue 16266, 27 June 1916, Page 8
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