CURRENCY PROBLEM

Waikato Times, Volume 114, Issue 18987, 3 July 1933, Page 8

CURRENCY PROBLEM

(GOLD COUNTRIES’ PLEA. DECLARATION DECLARED. AN INTERNATIONAL STANDARD, United Press Assn. —Elec. Tel. Copyright. (Received July 3, 1.45 p.m.) LONDON, July 2. The gold countries’ resolution which was approved by the British and American delegations which has been transmitted to President Roosevelt concludes: “The Governments subscribing to this declaration, whose countries are not on the gold standard, recognise the importance of a declaration without prejudicing their own future, ratios in gold, and reiterate that the ultimate objective of their currency policy is to bring back an international standard based on gold under proper conditions. “ The Government of each non-gold country agrees to adopt effective measures to limit exchange speculation, the other signatory Governments undertaking to co-operate, with the same end in view. “ Each Government agrees to ask its Central Bank to co-operate with the other Central Banks in limiting speculation, and at the proper time on the reinauguration of an international £old standard.”