THREAT TO POLICY

Evening Post, Volume CXIX, Issue 34, 9 February 1935, Page 9

THREAT TO POLICY

COMMODITY SPECULATION

BANKS TO TAKE ACTION

LONDON, February 8.

The "Daily Herald" states that the banks' have refused to aid the pepper gamblers, who will be allowed to crash, and today brokers on the Stock Exchange and commodity dealers will be informed that the banks propose to call in all loans unless it can be shown that the money advanced is being employed strictly ' for non-speculative business; . ..." ■. . • . :

V The ''Daily Herald" says that the heads of the "big five" banks, at v the request of Mr. Montague Norman, Governor of the Bank of England, and the Treasury, have agreed' to launch a big drive against commodity speculation. . ' .-.. .':. ;-. ■•;.■-. ■

Mr. Norman and . the Treasury believe that a'wave of gambling in commodities threatens the Government's whole: cheap money policy. ;