CURRENCY DEVALUATION
APPROVAL EXPRESSED IN AMERICA REBUILDING INTERNATIONAL COMMERCE Press Association—By Telegraph—Copyright WASHINGTON, October 5. Mr Cordell Hull expressed approval of France, Switzerland, and the Netherlands devaluing their currencies and lowering their import duties as “ a move towards rebuilding international commerce.” He said it showed that other countries recognised that extreme restrictions imposed on the trade of the world created a common injury, and were ready to move towards rebuilding international commerce. Mr Morgenthau’s only comment regarding stabilisation was that everything seemed to be going extremely well. Italy’s devaluation is welcomed by bankers and economists as a contribution to the general readjustment of parities. ITALIAN BOURSES TO REOPEN ROME, October 6. (Received October 7, at 11 a.m.) The bourses will reopen to-morrow. NERVOUSNESS IN GERMANY BERLIN, October 6. (Received October 7, at 2 p.m.) Share prices rose owing to increasing nervousness concerning the future of the currency. Well-informed circles, however, believe that devaluation is not imminent, but the creation of an export mark, which would be exclusively for use abroad for purchase of German goods, is considered more likely.
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Evening Star, Issue 22463, 7 October 1936, Page 11
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179CURRENCY DEVALUATION Evening Star, Issue 22463, 7 October 1936, Page 11
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