POUND STERLING.
CONFIDENCE REVIVES. .. ■ • -..(Received 1.30 p.m.) -'■ - . LONDON, August 26. A notable feature in the financial markets to-day, attributed to the formation of the hew Government and Mr. MacDonald's broadcast, was the strength of the pound sterling, which advanced particularly in relation to the dollar and franc. '■-■_ Here, as well as in Belgium, Holland. Italy and Switzerland, there was a--"simultaneous movement which is regarded as striking evllence of the general" return of confidence abroad in Britain's- financial position.
The "Daily Herald" says the new Government" is not a people's, but a bankers' Government. The paper urges the mobilisation of British capital invested abroad as : a fund with which to safeguard the pound sterling.
Tie "Financial News" stresses the point • that the work which the National Government has undertaken is first and foremost the interest of the wage-earning classes.
The newspaper says a. revival of confidence in the pound sterling was noticeable on every market yesterday.
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Bibliographic details
Auckland Star, Volume LXII, Issue 202, 27 August 1931, Page 7
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155POUND STERLING. Auckland Star, Volume LXII, Issue 202, 27 August 1931, Page 7
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