BRITISH FINANCE'S AIM
LEADERS VISIT AMERICA
CO-OPERATION OF MONEY
MARKETS.,
(UfiiriD PItISS ASSOCIATION.—COPMIQHT.)
(BlUTIIt'l TILHRAH.)
j WASHINGTON, 6th January. Officials have been informed that the hitherto unexplained visit to New York of the Hon. Montagu Norman, Governor of the Bank of England, is connected with a proposal by which the British Government and financial interests would | restore the pound sterling to its gold parity in the near future. Mr. Norman is npt expected to negotiate with the United States Government, as that is unnecessary, but close co-operation between London and New York money markets is essential. . Responsible British agencies believo that they can bring sterling to par at any tmie, but the problem is to keep it there. Mr. Norman is understood to be gathering estimates of the trend of capi-' tal and gold movements, which might result from sterling being at parity, and is arranging tentatively for the adjustment pf the monetary and banking machinery to meet the new demand. Some Washington officials believe that l sterling parity would hasten redistribution and require the export £f gold from the .United States.
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Bibliographic details
Evening Post, Volume CIX, Issue 6, 8 January 1925, Page 7
Word Count
182
BRITISH FINANCE'S AIM
Evening Post, Volume CIX, Issue 6, 8 January 1925, Page 7
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