BRITISH MONETARY POLICY
MR CHAMBERLAIN CORRECT* A “MISAPPREHENSION”
(BRITISH OFFICIAL WIRRLRRR.) RUGBY, June 17. Recalling that the French Government had stated that it was not its policy to devalue the franc and refusing, therefore, to reply to a question in the House of Commonsbased on that hypothesis, the Chancellor of the Exchequer (Mr Neville Chamberlain) took the opportunity to deal with what he described as a “misapprehension” current in some quarters. Mr Chamberlain said: “Our monetary policy has never been governed by any desire to obtain competitive trade advantages. The Exchange Equalisation Account plays the part only of smoothing out unnecessary fluctuations.”
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Press, Volume LXXII, Issue 21813, 19 June 1936, Page 11
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102BRITISH MONETARY POLICY Press, Volume LXXII, Issue 21813, 19 June 1936, Page 11
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