DEVALUATION.
THE CURRENCY PROBLEM. IRE-BUILDING WORLD-TRADE. RIC-ADJUSTMENT 0F PAHITIES. United Press Assn—«met; Tel. copyright. \VASI-lINGTON, Oct. 5. The Secretary of State, Mr Cordell ilull, to-ciuy expressed his approval of the action of France, Switzerland and the Netherlands in devaluing their currencies and lowering their import duties as ” move toward rebuilding international commerce." fttaly‘s devaluation of the lira is welcomed by bankers and economists as a contribution to a general read.iustment of paritles preceding stabil—isation. . Mr llull said: “The movement shows that other countries recognise that the extreme restrictions imposed on the trade of the world created common injury and that they are ready to move tOward rebuilding international commerce.
The only comment made by the Secretary of the Treasury, Mr Henry Morgenthau, was that in regard to the stabilisation situation everything seemed to be going extremely well.
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Bibliographic details
Waikato Times, Volume 120, Issue 10010, 7 October 1936, Page 9
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137DEVALUATION. Waikato Times, Volume 120, Issue 10010, 7 October 1936, Page 9
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