BRITISH CREDIT.

Press, Volume LXVII, Issue 20302, 30 July 1931, Page 9

BRITISH CREDIT.

COMMENT ON FRENCH REPORT. DIFFERENCES OF OPINION. (UNITED PRESS ASSOCIATION*—BY ELKCTSIC TELEGRAPH —COPtEIOHT.) (Received July 29th. 10.45 p.m.) LONDON, July 29. The .Paris correspondent of the British tJnited Press says that negotiations for a £20 i OOO,OOO credit in support of the British Exchange has been suspended owing to the British Treasury's refusal to consent on the ground that thej exchange will be revived upon London's protective measures. The City Editor of the "Morning Post" and other financial authorities discredit the reports emanating 1 from Paris that a credit of £20,000,000 is being arranged from the Bank of France to the Bank, of England. The "Daily Herald" editorially says: "We regard the reports as a deliberate and considered attempt on the part of certain French interests to break down British credit and to persuade Europe that France is the only stable country to which all must come for aid, whatever terms are imposed. This campaign is as futile is it is mischivous." The "Daily Telegraph" understands that a hitcli in the £20,000,000 credit is due to a difference of opinion between Mr Philip Snowden and Mr Montagu Norman, the former declarifc unnecessary. v -