GERMAN CURRENCY
NOT TO BE DEVALUATED. NEGOTIATIONS POSSIBLE. THE “VERSAILLES INJUSTICE.” (United Press Association—By Electric Telegraph—Copyright.) Received October 1, 11.35 a.m. BERLIN, Sept. 30. Dr. H. G. 'A. Schacht (Economics Minister) told the Koichsbank Committee that Germany will not devaluate. “The reason for the control of German currency is the burden of debts imposed by tne Versailles injustice and the difficulties connected with the purchase of raw materials,” lie added. Germany was prepared to participate in international negotiations aimed at a free economic system, and would be ready to re-examine her attitude should such possibilities be opened by the English, French, and American agreement. GOLD QUOTATION. PROGRESS OF FRENCH BILL. Received October 1, 9.45 a.m. LONDON, Sept. 30. The price of gold per fine ounce is now £7 0s 2d. The dollar exchange rate on New York is 496. The franc is not quoted. A Paris message says the Senate has passed the devaluation clauses in the Gold Bill. MARKETS QUIET. LONDON QUOTATIONS. (British Official Wireless.) Received October 1, 11.50 a.m. RUGBY, Sept. 30. A quiet condition prevails on the foreign exchange markets. The latest rates are: Sterling on New York 4.96, Brussels 29.335, Amsterdam 9.05, Geneva 21.555, and Berlin 12.70. British Government stocks have improved. About 408 bars of gold, of an approximate value of £1,150,000, were disposed of to-day at £7 Os 2d per fine ounce. BOURSES STILL SHUT. Received October 1, 11.35 a.m. , ROME, Sept. 30. It is officially announced that the Bourses, which were expected to have reopened to-morrow, will remain closed until further orders. THE SWISS DECISION. BERNE, Sept. 30. The Lower Chamber of the Swiss Parliament, by 99 votes to 60, approved the Government’s notion in devaluing the Swiss franc and imposing a temporary gold embargo. JAPAN NOT TO CHANGE. TOKIO, Sept. 30. The Government has decided not to alter Japan's currency policy and the purchase price of gold.
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Manawatu Standard, Volume LVI, Issue 260, 1 October 1936, Page 9
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315GERMAN CURRENCY Manawatu Standard, Volume LVI, Issue 260, 1 October 1936, Page 9
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