LONDON WORRIED
NERVOUSNESS OF MR NORMAN.
M. POINCARE BLAMED
LONDON, March 26. One of the chief topics in city financial circles is the nervousness of Mr Montagu Norman, Goyemor of the Bank of England, regarding the maintenance of the gold standard. _ _ Mr Norman has been complaining bitterly in private conversations regarding the difficulty and expense to England incurred in maintaining the gold standard, while the rest of Europe, especially France, adheres to an inflation policy. He accuses M. Poincare, the French Premier, of creating an impossible situation by pretending to stabilise the franc, without really doing so, and using gold to maintain currency without returning to gold parity. . This policy, Mr Norman explains, is a bad example, influencing Italy, Rou- j mania, Serbia and other oountries to follow suit, and, if it continues for another two years, Britain may have to reconsider her own position. Mr Norman is fighting hard to detain his position against a campaign conducted by the Midland Bank interests. Mr Reginald McKenna, a leading English financier and. politician, blames Mr Norman for the decay of British industry as a result of the return to the gold standard.
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Bibliographic details
Manawatu Standard, Volume XLVII, Issue 111, 7 April 1927, Page 5
Word Count
191LONDON WORRIED Manawatu Standard, Volume XLVII, Issue 111, 7 April 1927, Page 5
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