STERLING NATIONS
LEAD IN RECOVERY, ■ * . LONDON, 'Nov. 3. The sterling group of countries is" leading the world to rceoVe-ry-at the present time, according to aii'authoritativc survey of economy conditions in the current Midland Bank review. Recovery is so far advanced in Britain, according to the writer'.of.the survey, that 1929 level? of activity should be restored within two years. * Other sterling countries, notably Australia, New Zealand and Sweden, also are found to be recovering .strongly, and. in the opinion of the Midland Bank writer, “progress within the sterling area has’been., on the whole, more even and sustained than without it.” “Notwithstanding: that sterling' is a pure, , managed currency,' almost completely divorced from gold for an indefinite period,” he writes, “it provides the only basis for ohr monetary stability in the world to-day- Neither gold nor the dollar can at present' 1 provide the •same degree of steadiness \ iu purchasing power as the pound is showing, and seems likely to maintain.-’"
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Bibliographic details
Poverty Bay Herald, Volume LX, Issue 18283, 29 December 1933, Page 4
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159STERLING NATIONS Poverty Bay Herald, Volume LX, Issue 18283, 29 December 1933, Page 4
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