DUTCH TENSION
ECONOMIC EXTREMITY. HUGE LOSS OF GOLD. CABINET MAY RESIGN. (Received 9 a.m.) LONDON, July 24. A message from Amsterdam states that in consequence of the Catholic Party’s refusal to support the Government’s economy measures, the guilder is facing a crisis. The Netherlands Bank lost £7,000,000 worth of gold in a day and has raised the bank rate to 5 per cent. The Cabinet has postponed for 24 hours its decision whether to resign and dissolve Parliament. The city editor of,“The Times” says the weakness of the guilder spread to other gold currencies today, necessitating the intervention' of the Equalisation Fund. - ■
The belief that Holland will abandon gold has resulted i,n rises in Unilevers, Royal Dutch and similar international shares.
Holland lost a further £3,000,000 in gpld guilders. A firmer market is disposed to await development. The Amsterdam correspondent of the “Daily Telegraph” says the Premier had a long conference with the Queen, who, it is understood, does not desire his resignation. The bank rate was later raised to 6 per cent. The'announcement of the Cabinet decision was delayed for fear of speculation.
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Northern Advocate, 26 July 1935, Page 7
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184DUTCH TENSION Northern Advocate, 26 July 1935, Page 7
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