AUSTRALIAN POUND NOT BEING ALTERED BEFORE STERLING
(Rec. 10.15). CANBERRA, Nov. 23. Rt. Hon. J. B. Chifley, Prime Minister, told the House of Representatives to-day: “Australia does not intend altering the value of the Aus tralian pound while sterling maintains its present value against world currencies”.
Mr Chifley was replying to a questioner, who said that the Auslraliai wool buyers were insuring with underwriters against the Australian pound being depreciated, thus causing vast sums to go into the hands of <h underwriters, who were betting against the Government altering the pound. Mr Chifley said that he could repeat his previous statement with more emphasis, because greater economic stability had been reached in Europe, which had some effect upon the economic stability in England. Previously, it had been thought that some devaluation of the European currency might be necessary, -but this was not now felt so strongly.
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Grey River Argus, 24 November 1948, Page 5
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146AUSTRALIAN POUND NOT BEING ALTERED BEFORE STERLING Grey River Argus, 24 November 1948, Page 5
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