According to Plan

Manawatu Times, Volume LIV, Issue 7196, 30 June 1933, Page 7

According to Plan

STABILISATION STILL THE PBOBLEM Received Thursday, 9.46 p.m. LONDON, June 29. The Daily Telegraph’s financial editor says lack of confidence in the dollar has extended to America, hence there has been considerable selling here. So far no official check has been put on the decline and the deterioration may proceed rapidly. The United States can stop the movement at any time by announcing a stabilisation level. It must therefore be assumed that events are marching according to plan. In the meantime the Bank of England has agreed to hold the franc, while the Bank of “ranee will collaborate in supporting the guilder as long as Franco and Hoi-. land permit gold exports. This is a normal proceeding. Currency and commodity prices are now dominating the stock exchange movements. The Daily Telegraph’s special correspondent says it is gathered that President Roosevelt is prepared to accept the advice of Professor Moley as to whether there should be temporary stabilisation or not. The question will be decided during Professor Moley’s visit. The Daily Express says the bankers are again conferring in London on Friday in another effort to secure stabilisation. America’s recent objective was 4.30 and it is stated now to be 4.65. Conference Bureau’s Brief Meeting PROFESSOR MOLEY HAS A BUSY DAY Received Thursday, 9 p.m. LONDON, June 29. The meeting of the Conference Bureau this evening from which much was expected brought no disclosures beyond a statement that the bureau had agreed that the conclusions of the Economic Commission will be subject to the realisation of an agreement on monetary stabilisation. This condition was imposed by speakers during the debates. M. Avenol reported on the present position regarding the questions discussed. Mr. Ramsay MacDonald said he thought the bureau would agree that appreciable progress had been made. The meeting lasted only forty minutes. Professor Moley had a long and busy day. He held many conversations with the American delegation and in the afternoon again met the British Ministers to Tesumo tho talks started on the previous day. Co-ordination of Programmes ’ Suggested AMERICA DEFINITELY PAST THE CORNER. LONDON, June 28. Encountering a barrage of questions in a Press interview, Professor Morley (President Roosevelt’s financial adviser) said America thought that the domestic and international programmes for recovery could be co-ordinated. America’s recovory was general and substantial. Americans hoped that other countries would share in this recovery, but their methods of participation were their own affair.