SECRET TALKS.

Auckland Star, Volume LXIV, Issue 204, 30 August 1933, Page 7

SECRET TALKS.

CURRENCY PROBLEM. British and American Bankers And Mr. Roosevelt. STABILISING EXCHANGE. (United P.A.—Electric Telegraph—Copyright) NEW YORK, August 29. President Roosevelt listened last evening to the trials of international banking leaders for the stabilisation of foreign exchanges. It is stated, however, that their visit was a social one and that no business was transacted. Mr. Montagu Norman, Governor of the Bank of England, and Mr. George Harrison, Governor of the Federal Reserve Bank of New York, were present. It has boon suggested that Mr. Norman and Mr. Harrison have been discussing the advisability of the stabilisation of currencies, but there is not the slightest hint that Mr. Roosevelt feels that the time is right for this. Another report states that Mr. Norman, after opening a series of conferences with Government officials at Hyde Park, Poughkeepsie, stayed an hour or more, but did not engage the President in private conversation on international financial matters. Although Mr. Norman kept the nature of his business secret, it is reported that he suggested the advisability of the stabilisation of the pound and the dollar. American officials again tentatively rejected this, pending the outcome of the domestic recovery policy.