GOLD STANDARD

Press, Volume LXXI, Issue 21418, 9 March 1935, Page 15

GOLD STANDARD

jfitish Position Defined JO RETURN YET ..mEMOU reviews | p.\N(;Elis ! _ ~^l lAl; ..v. M nr i;:!'. , ..„ci March ' |f -' P'm 1 ] LONDON. March '■ j c 0 f Commons Mr D. j "*c\i)re; ; sed U-c opinion Unit | continue to tali until j ; ;.;: inc ,,t re versed Us policy ! j'- Bank of England contracted I [ * : . rv The Chancellor of i , ; .^' t ' er (Mr Neville Clmm- I to :i question i I.* * 'o PJ, £3SU.UOO,'JtJ(J equalisation j !•ihat the fund was never \ Uncled to be u*ed for def forcing sterling Ivr2 ;: used to smooth out | '.■p; in currency values. k""„ the external value nu t related to any- j ' ;r'had taker, place in j V-umi. Tnere was absolutely j the position which need , ' ! -"nmcnt's uneasiness. 'the, / Value of the £ was tin-; "• would bey 'he i,.»ds ;.s h would three 1 •; o [ t was very difiercntj : '■■■ -.vhicli t'uctualcu eon- j ij r,,! Britain aUemoting ; . instances to iry to r currency on gold. it ; - 'n'jjjv/iL'ic. On eii.i; r , c e the franc and the j ■ ~r which were anclH>red j r tach had no economic | c :::c;. "otb Fiancej - ■■ a had enormous hoards | •■ : ■ gave then) a domin- j i i) operating the gold I Great Britain at present j d shion to risk nuUion j ■ i!-r. mercy of either ... j r dollar. Some day | and other countries' "'•csbilitv would go bac;: to , l" gold standard, nut j ■ ' j ™ : !iiCi.t v. I'i not piepai ccl j " s ,r t step to put England : ;> could see the condi-j u able that, having ret'ri. gold standard. Great j ■vi be pretty certain to ! I :y.Tit v. as deieatcd ; sion. ;