FOREIGN LOANS
EMBARGO REMOVED. ‘STATEMENT BY CHANCELLOR. (By Electric Telegraph—Copyright.) LONDON, Nov. 3. Mr AVinslon 'Churchill, Chancellor of tho Exchequer', speaking 'at Sheffield, said the tune had come to establish freedom and normality in the money market. Henceforth no objection would ho raised on general grounds by responsible financial authorities to the issue of Dominion, colonial or (foreign loans on the London market. The embargo had been removed and full freedom restored. Ho trusted to the city’s common sense to manage its affairs With discretion, paying regard to the market’s capacities and also the attitude of borrowers. He hoped, as far as possible, and without imperilling the market’s freedom, that preference should ho given, in the matter of credit, to issues which brought immediately a high proportion, of orders for British goods'. Ho defended tho return to tho gold standard and said that the embargo on Dominion loans had been criticised, but ho had to consider tho possible effects on homo industries of overlending abroad and tho consequent stringency of credit for domestic purposes.—A. and N.Z.‘ cable.
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Bibliographic details
Manawatu Standard, Volume XLV, Issue 286, 6 November 1925, Page 7
Word Count
177FOREIGN LOANS Manawatu Standard, Volume XLV, Issue 286, 6 November 1925, Page 7
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