MONEY’S HOMEWARD RUSH

Taranaki Daily News, 18 October 1933, Page 7

MONEY’S HOMEWARD RUSH

REPATRIATION OF DOLLAR

DISTURBANCES IN EUROPE

LARGE DEPOSITS IN FRANCE

RISE AGAINST THE POUND

By Telegraph—Press Assn.—Copyright. Rec. 11.30 p.m. London, Oct. 17.

War talk in Europe is resulting in a homeward rush of American money. One of the factors in the excited exchange market yesterday was the hurried repatriation of money which had been sent to Europe, particularly to France, for safety. The rise in the dollar gave the pound a New York value of 18s Id, compared with 18s 9Jd on Saturday. ' The upward movement of the dollar is expected to continue unless the position improves, as there are still large American deposits in Europe. Moreover, shrewd judges consider the breakdown of the Disarmament Conference is likely to prevent France balancing her Budget, even if she abstains from active military operations in the present crisis. UNITED STATES’ ATTITUDE NOT INTERESTED POLITICALLY. DESIRE FOR DISARMAMENT. Rec. 12.50 a.m. Geneva, Oct. 17. The American delegation to-day defined its attitude to the Disarmament Conference. “We came to Geneva solely in the cause of disarmament and shall be happy to participate in the negotiations while there is a prospect of success,” it stated. “We are- not interested in the political elements of purely European aspects and re-emphasise that we are in no-wise politically allied to any European Power. We do not wish to actively participate in this week’s consultations between the European capitals in view of their purely political character.”