PSYCHOLOGICAL
FINANCIAL DEPRESSION LONDON, October 10. “The fact i that there is hardly a country in Europe where foreign exchange can be freely bought and sold is evidence of a spreading paralysis in international commerce,” said .Sir Walter Layton, noted economist, in the News-Chronicle. “These widespread difficulties’ arc caused by a psychological depression, which is partly responsible for the pessimistic view) taken in the United States. “The American banking situation is undoubtedly serious, but the Federal Reserve banking system is sufficent to support all probable requirements. There is no reason to expect a crash of the dollar. • "The fact that such fears are current, however, shows the growth of tho panicky feeling in Europe.”
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Bibliographic details
Poverty Bay Herald, Volume LV, Issue 17608, 26 October 1931, Page 11
Word Count
114PSYCHOLOGICAL Poverty Bay Herald, Volume LV, Issue 17608, 26 October 1931, Page 11
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