THE 8.1.5.
REMOVAL TO LONDON FRENCH OPPOSE SUGGESTION PARIS, Oct. 9. Certain leading financiers connected with the Bank for International Settlements have come to the conclusion that, working as it is from the Swiss town of Basel, the bank is faced with the prospect of perishing from inanition, instead of being able to fulfil the valuable functions of an international clearing house for which it was created.
This is all the move evident as the handling of reparation payments which has hitherto constituted its principal activity, will shortly come to an end. It it suggested, therefore, that not only shall the bank be transferred to London, but that sufficient capital shall lie subscribed to enable it to serve a useful purpose. This proposal, however, meets with some opposition in French quarters, where the objection is made that French investors would only be setting up an institution which would largely bo in competition with French hanks.
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Bibliographic details
Poverty Bay Herald, Volume LIX, Issue 17949, 29 November 1932, Page 9
Word Count
155THE B.I.S. Poverty Bay Herald, Volume LIX, Issue 17949, 29 November 1932, Page 9
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