LOAN TO AUSTRIA
RATIFIED BY HOUSE OF COMMONS. British Official Wireless (Received December 21, 5.5 p.m.) RUGBY, December 20. The House of Commons to-night approved of a resolution authorising the Treasury, in pursuance of the Austrian Protocol drawn up at Geneva on July 15 last, to guarantee the payment of the principal and interest on the loan of such an amount as would produce a sum of not more than one million gold shillings. Mr Neville Chamberlain (Chancellor of the Exchequer), explained that the Protocol provided on the side of Austria for internal reforms including the balancing of the budget, and aimed at the abolition of exchange control and the strengthening of the national bank. The Austrian Government undertook to meet in future all its foreign obligations. The proceeds of the amount of the loan to be guaranteed by the British Government was to be used to repay the temporary advance made by the Bank of England last year.
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Bibliographic details
Timaru Herald, Volume CXXXVII, Issue 19372, 22 December 1932, Page 9
Word Count
159LOAN TO AUSTRIA Timaru Herald, Volume CXXXVII, Issue 19372, 22 December 1932, Page 9
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