TO STEADY EXCHANGE RATES

Auckland Star, Volume XLVI, Issue 61, 12 March 1915, Page 5

TO STEADY EXCHANGE RATES

RUSSIA AND FOODSTUFFS. NO NEED TO BORROW FROM AMERICA; (Received 9a;inv) ■ • LONDON , , March 11. The question of preventing.jluctuatione in the rate* of- exchange -was: discussed at a meeting at which 3fr Lloyd George and Lord Reading were present. Mr Lloyd George said -he had made special arrangements with Russia, whereby no embargo would be placed. on butter, wheat;' and other foodstuffs as far as Great Britain was concerned. So long as the country enjoyed the existing confidence iii regard to loans it would not bg advantageous to borrow, from the United Statess. He believed that the question of Russian exchange would right itself as soon as the country resumed her export trade with tljG opening of the Black. Sea ports.j_ : ....„./ ,; v , ;