Ruinous Drain On Dollars, Gold
LONDON, Fri. (10 a.m.)—Since the suspension of convertibility the drain on Britain’s gold and dollar resources had been running at the ruinous average rate of $70,000,000 a week. The Chancellor of the Exchequer (Dr Dalton) revealed this in a speech. Since September 15 Britain had had to sell £50,000,000 of gold reserves and purchase $180,000,000 from the International Monetary Fund. Referring to reports that he contemplated obtaining a “forced loan” from the public, Dr Dalton said it must not be taken ' for granted that the ideas most widely canvassed were in the minds of Ministers at all.
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https://paperspast.natlib.govt.nz/newspapers/NA19471025.2.88
Bibliographic details
Northern Advocate, 25 October 1947, Page 7
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102Ruinous Drain On Dollars, Gold Northern Advocate, 25 October 1947, Page 7
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