DEVALUATION OF STERLING BELIEVED INEVITABLE
f Received WefupsHav 11.50 a.m. CANBERFA. Julv 6. 1 A devaluation of sterling is now rpo-avfio(2 hv Fpderoi Mih.isters as fhp aimnst inevitahle outcome of the forthcoming London conference. rnhe nossibilitv of this devaluation wag discufsed by the Fedp.ral Cahinet Pariv todav. Cahinet has ovdeved an rnmpdinte review of AustraJia's estimated dollar exnenditiir° for the- current vear and a reductlnn nf 20 pev cpnt., if possiuio in dnUar imnorts for th# qimrter endinr Ser>tprnber 30. ents ordered for the current cnnvfpr -^111 redoce exppriditnvo fnv that neriod to less than nnn nnq d'oUars, comoared1 with 54 ono nnn r'oiia1"^ irj tv. a first ruarter nf the dollar year he^'nni^o- Anrii 1 TUo pcderai Government 3s unppvs+nnd to kiavp a°Tepci that, Ana-t-elia would ko Tvrouarprl to deval'ue ' fhp nound sh ouM q sterling devaina'tion be necessary.
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Bibliographic details
Chronicle (Levin), 6 July 1949, Page 5
Word Count
140DEVALUATION OF STERLING BELIEVED INEVITABLE Chronicle (Levin), 6 July 1949, Page 5
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