GOLD STANDARD
THE DOLLAR AND POUND
NEW RATIO SUGGESTED
NEW YORK, December 15. Sir Norman Angell, in a Press interview today, suggested a return to the gold standard with a new ratio between the dollar and the pound. He admitted, that there were wide differences of opinion in the respective countries of what it should be. He said that the British authorities thought the natural ratio somewhere in the region of four dollars, while he found Americans mentioning six and even eight dollars. "At some point you will have to stabilise by agreement," he said. "There may be a reason which makes it wise to wait. The load of internal indebtedness must be reduced. Either or both vast liquidation or inflation —I think both in a degree—will have to be employed."
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Bibliographic details
Evening Post, Volume CXVI, Issue 146, 18 December 1933, Page 9
Word Count
131GOLD STANDARD Evening Post, Volume CXVI, Issue 146, 18 December 1933, Page 9
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