EXCHANGE EQUALISATION
APPROVAL OF INCREASE OBJECTION BY LABOUR REDUCTION REJECTED (Elec. Tel. Copyright—-United Press Assn.) ißeed. June 29. 3 p.m.) LONDON, June 28. During the debate in the House of Commons on the proposal by the Chancellor of the Exchequer, Sir John Simon, lo increase the amount that may be issued to the exchange cqual•yiation account from £350,000,000 to Hi.ooo, Mr. F. W. Pcthwiek Ld’-vi'ence (Labour, Edinburgh East), said Fiat the Labour Party supported t.;e new proposal so far as it was desigih G d to assist France. The Vabour Party accepted the principle, of the exchange equalisation account because it had partly restored the centre 1 of currency and finance to the Government, whereas the Bank of England had long controlled the life blood of the community. The Labour Party, however, thought that an increase of £200,(/HI.OOO was unnecessarily high. A Labour Party amendment to restrict the increase lo 150.000,000 was rejected by 197 voles t. 90. The resolution was ngr* d lo without a division.
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Poverty Bay Herald, Volume LXIV, Issue 19364, 30 June 1937, Page 17
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167EXCHANGE EQUALISATION Poverty Bay Herald, Volume LXIV, Issue 19364, 30 June 1937, Page 17
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