EXCHANGE PROBLEM
THE COMMITTEE’S REPORT. ESSENTIALS TO RECOVERY. (Australian and N.Z. Cable Assn.) LONDON, Dec. 14. The Committee on Currency and Foreign Exchanges, in a final report, that the depreciation in the sterling in New York is largely due to the expanded stale of credit in Britain. The large payments wo have to mala; to America for necessary imports make it essential that we should secure lament in cash for as large a proportion of our exports as possible. We, therefore, recommend that \vc give preference to exports to those countries which arc able to pay in the ordinary course of trade. The first essentials to the recovery of exchange are increased .production, cessation of Government borrowings and decreased expenditure by ( due Government and individuals. PARIS, Dec. 14. With a view to covering the loss on tlie rate of exchange the French Government is henceforth taxing foreign telegrams 05 centimes per franc.
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Bibliographic details
Waikato Times, Volume 91, Issue 14242, 17 December 1919, Page 6
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152EXCHANGE PROBLEM Waikato Times, Volume 91, Issue 14242, 17 December 1919, Page 6
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