WORLD COMMERCE
STEP TO REBUILDING OPINION IN AMERICA ITALY'S MOVE WELCOMED By Telegraph—Press Association—Copyright (Received October 6, 5.56 p.m.) WASHINGTON, Oct. 5 The Secretary of State, Mr. Cordell Hull, to-day expressed his approval of the action of France, Switzerland and the Netherlands in devaluing their currencies and lowering their import duties as "a move toward rebuilding international commerce." Italy's devaluation of the lira is welcomed by bankers and economists as a contribution to a generat readjustment of parities preceding stabilisation. Mr. Hull paid: "The movement shows that other countries recognise that the extreme restrictions imposed on the trade the- world created common injury and that they are ready to move toward rebuilding international commerce. The only comment made by the Secretary of the Treasury,' Mr. Henry Morgenthau, was that in regard to the stabilisation situation everything seemed to be going extremely well.
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New Zealand Herald, Volume LXXIII, Issue 22543, 7 October 1936, Page 13
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142WORLD COMMERCE New Zealand Herald, Volume LXXIII, Issue 22543, 7 October 1936, Page 13
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