BRITAIN'S FLOATING DEBT
BISE IN THE BANK BATE,
(DI.ITED PRBSS, ASSOCIATION.—COrTRISHT.) (AUSTRALIAN - NETT ZEALAND CABLB ASSOCIATION.) LONDON', 16th April. In-connection with the advance in the bank rate, a policy of dearer money has been adopted in co-operation with the Treasury, which has raised the rates on Treasury bills. It is thus hoped to 'curtail credit expansion and speculation and to encourage toWers of Treasury bills to renew them'as they fall due, and thereby generally strengthen the country's financial position. Opinion in "the City is divided as to the wisdom of the pohcy, but.it is agreed that the rise emphasises the necessity for dealing -with the enormous floating debt in such a way as to remove its disturbing influence on the.money market. The rise in the bank rate is also connected with exports of gold to America for the purpose of repaying the British share of the AngloFrench loan maturing in the United States in October. The stoppage of the export of specie is not contemplated, but it is hoped that the rise will prevent other inroads on. the bank reserves.
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Bibliographic details
Evening Post, Volume XCIX, Issue 92, 19 April 1920, Page 7
Word Count
180BRITAIN'S FLOATING DEBT Evening Post, Volume XCIX, Issue 92, 19 April 1920, Page 7
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