BRITISH CREDITS
RE-PAYMENT OUTSIDE RESERVE
GREAT ODDS CONQUERED
(U.P.A. by Elec. Tel. Copyright) LONDON, Jan. 26.
The Morning Post’s ■ financial editor says the Bank of England’s announcement of the repayment of credits to Franco and the United States marks the completion of a transaction which, together with tbo credit obtained by the Government, wj 11 always stand as a. record of the sincerity of Britain's attempt to maintain a gold standard against overwhelming odds. That repayment of the credits without resort to gold shipments shows the skill with wnich exchange operations havo been, conducted and the fact that no renewals of loans were sought indicates the strong position of the bank. There remains outstanding the £10,000,0.00 which the Government obtained from Franco and tho United States ;a August for one year.
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Bibliographic details
Gisborne Times, Volume LXXIII, Issue 11549, 28 January 1932, Page 5
Word Count
131BRITISH CREDITS Gisborne Times, Volume LXXIII, Issue 11549, 28 January 1932, Page 5
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