FUNDS FOR WAR.
DOMINION RESOURCES.
Largely Increased London
Assets.
(Heed. 1 p.iu.)
LONDON", Sept. 13
The contributions which the Dominions have made towards financing the United Kingdom's budgetary deficit, through increases in their London balances, have recently attracted attention.
The "Economist" calculates that India, New Zealand, Australia. South Africa, Egypt and Eire together have increased their London sterling funds by £59,000.000 or £00,000,000. which
represents a 4U cent n^e
The "Manchester Guardian" says the increase undoubtedly is a most useful aid for British war finance. India has contributed most towards the expansion, with New Zealand uext.
The "Economist" estimates that New Zealand's sterling asset* are £10.750.000. compared with £1.100.000 brfore the war. Australia's increase, on the contrary, is singularly small.
Financial circles <lo not expect tlic expansion of tlic Dominions' overeat assets to proceed much further. Among the reasons for this is the flow of gifts of one kind or another from the Empire to the British Exchequer.
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Bibliographic details
Auckland Star, Volume LXXI, Issue LXXI, 14 September 1940, Page 9
Word Count
158FUNDS FOR WAR. Auckland Star, Volume LXXI, Issue LXXI, 14 September 1940, Page 9
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