CONTROL OF EXCHANGES

Hawera Star, Volume LIII, 19 June 1933, Page 7

CONTROL OF EXCHANGES

British, French, American

HOPES HELD AT LONDON Temporary Agreement Urged WOULD AID WORLD CONFERENCE ULTIMATE STABILISATION PLAN. (British Official Wireless.) Received 12.45 p.m. to-day. RUGBY, June 17. ‘•The Times” city editor says the immediate legal 'Stabilisation of currencies ill term's" of gold" is opt of the question, but it is- understood that agreement to .keep British, French and American exchanges within certain limits may be possible if, among other things, an American equalisation fund is established to assist to control the dollar. A" temporary experimental period of so-called elastic -stabilisation is- possible, but success must depend on whether the stabilisation figures accord with commercial and economic facts. A satisfactory preliminary agreement by these, three countries would enable the monetary economic conference to tackle the question" of exchange stabilisation and the removal of exchange restrictions on a broad front. Until this point .is settled "the restoration of international trade is out of the question. Exchanges were .not specifically mentioned in the monetary discussions', but there were , numerous inquiries asto how they would he affected by any measure of stabilisation.