COMMENT ON STERLING DEVALUATION
British Newspapers Urge Government Economies (N.Z. Press Association —Copyright) (Rec. 11.30 p.m.) LONDON. September 19. British newspapers received the news of the devaluation of sterling with grim resignation. “The Times” said it would have been far better if measures of retrenchment at home could have come first, so that the guiding hand of disinflation could have played its part in restraining any advances in wages and prices that might threaten. The “Financial Times” said: “The need is greater than ever for the retrenchment of Government expenditure, for curtailment of unrequited exports, for the limitation of overambitious programmes of capital investment, and for effective incentives designed to encourage an ever-increasing emphasis on exports to the dollar area.” The “Daily Mail” declared: “Britain's difficulties will not be solved by devaluation. The remedy lies in ourselves as a nation.” The British Communist Party’s newspaper, the “Daily Worker,” claimed that the United States imperialists wanted devaluation because “they propose to invest their capital in the overseas empires of the West European Powers.”
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19490920.2.53
Bibliographic details
Press, Volume LXXXV, Issue 25913, 20 September 1949, Page 5
Word Count
172COMMENT ON STERLING DEVALUATION Press, Volume LXXXV, Issue 25913, 20 September 1949, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in