EXCHANGE PROBLEM

Evening Star, Issue 20983, 23 December 1931, Page 9

EXCHANGE PROBLEM

ACTION IN CANADA Press Association—By Telegraph—Copyright. TORONTO, December 21. Following a meeting of bankers with the Prime Minister (Mr R. B. Bennett) at Ottawa last week, when the adverse exchange sitiiation was discussed, Mr J. A. M'Leod (president of the Canadian Bankers' Association), in a statement to-day, said that immediate steps would be taken,through banks, trust companies, and investment houses to control the purchase abroad of securities by residents in Canada. AMERICAN SENATOR'S PROPOSAL WASHINGTON, December 21. Senator Hamilton Kean, of New Jersey, to-day proposed to the Senate the negotiation of a treaty with Canada for the purpose of establishing by law the parity of the Canadian dollar with the United States dollar, and the appointment of a Canadian member to the Federal Reserve Board the United States. Senator Kean said that this was intended to he a friendly gesture towards Canada, and he added that the resolution was_ the outcome of the agitation for an increase in the tariff to counterbalance the exchange differential.;