JARRING TRIANGLE
POUND-FEANC-DOLLAE
SCARE DAMAGES STERLING
[Jnitcd Press Association—By Electric Telo- . graph—Copyright. LONDON, March 1. The "Daily Telegraph's" financial editor says that the jarring triangle of the pound-franc-dollar is becoming an acute problem. If the fall of the 'pound in terms of gold is not. arrested, big questions will soon arise. The City is actively debating whether controls at London, Washington, and Paris will be content to leave exchanges to find their own levels. Sterling is weak against the dollar because America's currency is'undervalued and there is no free supply of dollars, to meet commercial demand. The present strength of the franc reflects the damage done to sterling by the recent unjustified scare on the Continent about Britain's political and financial position.
A further disadvantage to the pound's position is that it is forced to carry on its shoulders at present a large and important sterling area, a responsibility which at present is a big handicap. The unsettled feeling on the Continent finds expression in the demand for gold, and hoarders are busy. When they cannot buy gold they buy gold currencies.
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Bibliographic details
Evening Post, Issue 52, 2 March 1935, Page 9
Word Count
182JARRING TRIANGLE Evening Post, Issue 52, 2 March 1935, Page 9
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