MEET OBLIGATIONS.
AUSTRIAN UNDERTAKING. (British Official Wireless.) RUGBY, December 21. The House, of Commons has approved of a resolution authorising the Treasury, in pursuance of the Austria Protocol drawn up at Geneva on July. 15, to guarantee payment of principal and interest on a loan of such amount as would produce a sum not more than 1,000,000 gold schillings.'
The Chancellor of the Exchequer, Mr. Neville Chamberlain, explained that the protocol provided on the side of Austria for internal reforms, including balancing the Budget, and aimed at the abolition of exchange control and strengthening the national bank.
The Austrian Government undertook to meet in future all its foreign obligations. Proceeds of the amount of the loan to be guaranteed by the British Government were to be used to repay the temporary advance made by the Bank of England last year.
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Bibliographic details
Auckland Star, Volume LXIII, Issue 303, 22 December 1932, Page 7
Word Count
140MEET OBLIGATIONS. Auckland Star, Volume LXIII, Issue 303, 22 December 1932, Page 7
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