CHANCELLOR SUPPORTED.
WIDESPREAD APPROVAL. Received May 5, 11 p.m. LONDON, May 5. The statements of the Prime Minister an* l the Chancellor of the Exchequer naturally give a serious tone to the morning newspapers. Both have opened a wide field for discussion. The whole city is behind the Chancellor in increasing the Equalisation Fund. The impressive magnitude of the figure will itself act as a very formidable deterrent to speculators. The authorities are now in a very powerful position to both checkmate speculators and even stamp out the big fluctuations resulting from sudden wave movements of capital. Mr. Chamberlain mentioned that the amount of short-term capital this country at the beginning of 1933 reached the amazing total £2,000,000,000. How much “refugee or bad” money may be here in tho next 12 months is uncertain. but it is agreed on all hands that the Chancellor has been wise in providing an additional £200,000,000 to deal with any emergency.
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Bibliographic details
Wanganui Chronicle, Volume 76, Issue 105, 6 May 1933, Page 7
Word Count
157CHANCELLOR SUPPORTED. Wanganui Chronicle, Volume 76, Issue 105, 6 May 1933, Page 7
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