SURPLUS FUNDS IN LONDON
PRESS COMMENT ON AUSTRALIAN EXCHANGE POLICY.
United Press Association—By Electric Telegraph—Copyright (Received May 23, 7.15 p.m.) LONDON, May 23.
The financial editor of “The Daily Telegraph,” in commenting on the Australian trade position to the end of March, points out there should be a surplus in London on June 30, of about £18,000,000 above the sum required to meet the debt service. “Under these circumstances one wonders how much longer the authorities will maintain the exchange at the present level. There certainly are potent political reasons why the Australian pound should not be allowed to appreciate, but meanwhile the London balances are steadily accumulating and may shortly become inconveniently large.”
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Bibliographic details
Timaru Herald, Volume CXXXVII, Issue 19807, 24 May 1934, Page 5
Word Count
114SURPLUS FUNDS IN LONDON Timaru Herald, Volume CXXXVII, Issue 19807, 24 May 1934, Page 5
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