ATTACK ON STERLING

Northern Advocate, 29 October 1932, Page 9

ATTACK ON STERLING

FURTHER DEPRECIATION.

MR CHAMBERLAIN RETICENT

(Received 12.30 p.m.) VjNEW YORK, October 27,

British currencies continued to .decline in foreign exchanges today.' The Canadian dollar declined 7-8 to 00 1-8 cents, and the pound .declined,, a quarter cent to 3 dollars 27£ cents. A London message states that in the House of Commons, asked whether, in view of the sudden fall in the value of the £, he proposed to take steps to restore its value, .Mr Neville Chamberlain, Chancellor "of the Exchequer, said he saw no rear son to reconsider his announcementat Ottawa. “We do not see any prospect of a speedy return to the gold standard, nor are we at present prepared to say at what parity'such return should be effected, if and- when - - it takes place.”

TURN FOR THE ■ BETTER.'"::

CURRENCIES CLOSE STRONG,

(Received noon.)

NEW YORK, October 28. -T; British currencies closed strong tp-r day. Sterling, which was firm through- - out the day, closed at three 28J cents to the pound, a rise, of SV; cents. The Canadian dollar closed,..-: at 001 cents, which is 3-8 cents in' ;' crease.