STERLING SLUMP

Grey River Argus, 29 October 1932, Page 5

STERLING SLUMP

TO 3 DOL 27? CENTS. NEW YORK. October 27. British currencies continued to decline on foreign exchanges. The Canadian dollar declined seven-sixteenths to 90 1-8. The pound declined a quarter of a cent to 3.27}. LONDON, October 27. Asked whether in view of the sudden fall in value of the pound, he proposed to take -Steps to restore its value, Mr Chamberlaian said he saw no reason to reconsider his announcement at Ottawa. “We do not see any prospect of a speedy return to the gold standard, nor are we prepared, at present, to say at what parity such return should be effected if and when it takes place,” he said. A GOOD “CUT.” LONDON. October 27. In the Commons, Mr Chamberlain, in answer to a question, said the brokerage paid to stockbrokers, solicitors and others over the war loan conversion would be somewhat under four million.