FUTURE OF THE POUND
STABILITY OF STERLING SIR S. HILTON YOUNG’S VIEWS (British Official Wireless.) Ree. 2 p.m. RUGBY. OH. 21. In his l'cl'ereni'o to I lie future nf the pound (luring his speech at the annual Bankers’ Dinner in the Guildhall. Sir E. Hilton Young, Minister of Health, said that sterling had been found to have an inherent stability of its own. No .one eoidd say exactly what the future of the pound was likely to he, either in Ha? nearer or remoter tut lire. What can be said was that they could prudently return to gold whim it was clear that the gold standard was going to work properly. They must- have a rise, in the general value "of wholesale commodity prices to right capital with the level of costs, and an adjustment of factors —political, economic, financial, and monetarywhich had caused, its breakdown in many countries. International cooperation also would he desirable to avoid so fiir as practicable wide fluctuations in the purchasing power or the standard of value.
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Bibliographic details
Poverty Bay Herald, Volume LIX, Issue 17917, 22 October 1932, Page 8
Word Count
172FUTURE OF THE POUND Poverty Bay Herald, Volume LIX, Issue 17917, 22 October 1932, Page 8
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