FOREIGN EXCHANGE RATES
PROPOSED AUSTRALIAN LEGISLATION UNEASINESS IN LONDON (Rec. November 26, 10.45 p.m.) London, November 26. The “Morning Post” states that there is some uneasiness in the city about Australian cables stating that the Labour Government is contemplating a Bill giving the Government control of the foreign exchange rates. Such a modification of the gold standard might gravely prejudice Australian credit. Such artificial stabilisation of exchanges was necessary in wartime, but countries which tried the experiment since had found it most costly or unsuccessful in achieving its aim. On the contrary, an Australian Bill placing the gold reserve under central control in England created a favourable impression among London financiers.
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Bibliographic details
Dominion, Volume 23, Issue 54, 27 November 1929, Page 11
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111FOREIGN EXCHANGE RATES Dominion, Volume 23, Issue 54, 27 November 1929, Page 11
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