CURRENCY DEVALUATION
UNITED STATES’ APPROVAL “EVERYTHING GOING EXTREMELY WELL” (United Press Association— By Electric Telegraph—Copyright) WASHINGTON, sth October. Mr Cordell Hull, Secretary of State, expressed approval of the action of France and Switzerland and the Netherlands in devaluing currencies and iowering import duties as a “move toward rebuilding international commerce.” He said it showed that other countries recognised that the extreme restrictions imposed on the trade of the world created a common injury, and that they were ready to move toward rebuilding international commerce. Mr H. M. Morgenthau, Secretary of the Treasury’s, only comment regarding stabilisation was that everything seemed to be going extremely well. Italy’s devaluation is welcomed by bankers and economists as a contribution to the genera] readjustment of parties preceding stabilisation and revaluation of the lira.
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Nelson Evening Mail, Volume LXX, 7 October 1936, Page 5
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129CURRENCY DEVALUATION Nelson Evening Mail, Volume LXX, 7 October 1936, Page 5
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