EXCHANGE VALUES
ANGLO-AMERICAN LOAN' (Anjstralian and N.Z. Cahti Assyriat’otyl : WASHINGTON. April 28.? Arrangements by which the New York Fc’flend'Reserve' Bank will buy sterling bills in the open market at the request of the Bank of England, ik looked uppiv by the Secretary to the Tiujasury, Mr. Mellon, as a desirable”’ means of stabilising exchange and as beneficial to 1 the trade and commerce of both countries. ■ ; While it is generally accepted that 'Britain will seek credit amo’ng the bankers/ here to offset the bills’’ taken by the • New 1 York Bank, Mr. Mellon said he. knew nothing of the plans for a lohn, although lie regarded such a riiove from British quarters as obvious. ... The British pjan, as reported, contemplates a loan’of between a- half and three-quartei’ of a billion dollars, Which could be used to stay any emergency, since it is not believed here that sterling exchange woujd suffer more than temporary .flurries after it attains par. ,
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Greymouth Evening Star, 29 April 1925, Page 5
Word Count
158EXCHANGE VALUES Greymouth Evening Star, 29 April 1925, Page 5
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