OFF GOLD STANDARD
FRENCH POSSIBILITY AMERICAN CONJECTURE (EJec, Tel. Copyright—United Press Assn.) WASHINGTON, Sept. 24. Reports from Europe that a crisis in the franc may soon force France off gold, and an inciieatron that Britain, is willing to accept such an eventuality without counter-devaluation caused speculation to-day concerning the likely course the. United States Treasury wiil follow. There is no official confirmation, here that the Government will not devalue the dollar to meet the franc, but it is thought very unlikely to do so. In the first place, the devaluation of the franc is considered as opening the way to negotiation for an international stabilisation pact, which is desired here; secondly, Mr. Roosevelt is not likely to give the Republicans campaign ammunition in the form of a further tampering with the dollar. So far, the Treasury's invariable reply to questions regarding the dollar lias been that the Government was operating on a 24-hour basis. To-day, however, no comment was made on the French situation, indicating the possibility that Mr. Roosevelt has agreed to join Britain in allowing France to go off gold.
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Bibliographic details
Poverty Bay Herald, Volume LXIII, Issue 19130, 26 September 1936, Page 5
Word Count
182OFF GOLD STANDARD Poverty Bay Herald, Volume LXIII, Issue 19130, 26 September 1936, Page 5
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