LOAN FROM AMERICA
ATTRACTIONS FOR BRITAIN STABILISATION OF POUND LONDON. Jan. 23 A big loan from the United States, with, which Britain 'should make final war debts payment s;nd buy gold to stabilise sterling, is a suggestion made freely in tha United States, says Sir Walter Layton in the News Chronicle. Discussing the suggestion, he writes: "Such a proposal would correct the maldistribution of gold and has attraction* for Britain, where it is the growing belief of the business men that there is" little hope of recovery unless the pound is stabilised. Traders cannot afford to rusk exchange losses. "Nevertheless," adds Sir Walter, "a mere debt, bargain in return for stabilisation is insufficient. War dej)ts are only; portion of international obligations which must be paid in goods.
"Unless the World Economic Conference is able to arrange a freer exchange of goods, neither the gold standard nor other attempts to fix exchange'rates can be sustained permanently."
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Bibliographic details
New Zealand Herald, Volume LXX, Issue 21404, 31 January 1933, Page 9
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155LOAN FROM AMERICA New Zealand Herald, Volume LXX, Issue 21404, 31 January 1933, Page 9
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