THE RISE IN STERLING.
Thus an Australian writer: —"There | Jb good reason to believe that one cause j of the rise in sterling exchange which has been almost lost sight of in Australia has been the persistent buying up by I America, of manufacturing plants on the I Continent, where she can produce cheaply to her own designs, goods for export to South America, China, liussia and even Australia, using labour at half what it costs her in the States. These purchases have been made with sterling brought by her for that purpose. And while America is buying up Europe's factories with Rritish currency the £ will continue in demand. But the result will be to intensify competition and drive Britain put of her foreign markets." e__l_x
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Auckland Star, Volume LVI, Issue 112, 14 May 1925, Page 4
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126THE RISE IN STERLING. Auckland Star, Volume LVI, Issue 112, 14 May 1925, Page 4
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