STABILISING STERLING
THE EQUALISATION ACCOUNT. [ British Official Wireless.] Received June 29. 8.5 p.m. RUGBY, June 28. The Financial Secretary to the Treasury, Major Elliott, stated in the House of Commons this afternoon that the Exchange Equalisation Account had been established since last Friday and the Treasury had placed to its credit £150.000.000 as authorised by Section 24 of the Finance Art, 1932. This was an accounting transaction, that sum being held in sterling and re-lent to the Exchequer unless and until required for any other purpose of the account. The account was under the control of the Treasury but the Chancellor could not undertake to give detailed information as to its operations.
Tn replv to a question, the Chancellor pointed out that the purchase of silver would bo contrary to the provisions of the Finance Act
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Bibliographic details
Wanganui Chronicle, Volume 75, Issue 152, 30 June 1932, Page 7
Word Count
136STABILISING STERLING Wanganui Chronicle, Volume 75, Issue 152, 30 June 1932, Page 7
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