CURRENCY STABILISATION

Evening Star, Issue 22031, 17 May 1935, Page 9

CURRENCY STABILISATION

THE DOLLAR 1H POLITICS BRITAIN WAITS FOR AMERICAN DECLARATION Press Association—By Telegraph—Copyright VANCOUVER, May 16. “ Britain will consider world stabilisation of currency when it is definitely understood that the dollar is out of politics,” said Sir Josiah Stamp, in an address at Stanford University, California, on Wednesday. He continued : “ Britain is eager and willing to stabilise its currency. A revival of foreign trade and the prosperity of all countries depend upon international agreement on stabilisation. Britain is afraid to lead the way until she finds out the policy of the United States. We do not know how much (political pressure will be brought on President Roosevelt and what effect it will have on the Administration’s monetary policy.” MR MORGENTHAU’S VIEWS WASHINGTON, May 15. The Secretary of State (Mr Cordell Hull), in a formal statement, said that Mr Morgentllau’s limited stabilisation offer pointed in a direction toward which tho world can look for further general improvement in its affairs, “ Fluctuations of exchange have created a state of confusion in world markets, but I believe this confusion is only a transient condition incidental to the re-establiahment of a new and better-balanced stability.”