TO AID STERLING
BRITISH EXCHANGE FUND. (British Official Wireless.) RUGBY, June 28. The Financial Secretary to the Treasury, Major Elliott, stated in the Hous'e of Commons this afternoon that the Exchange Equalisation Account has been established since last Friday. said the Treasury had placed to its credit £150,000,000, as was authorised by Section 24 of the Finance Act, 1932. This was an accounting transaction. That 'sum was being herd in sterling, and was being re-lent, to the Exchequer unless, and until, required lor any other purpose of the Account. r l he .Account was under the control of the Treasury, but the Chancellor of the Exchequer could not undertake to give any detailed information as to its own operations. However, in reply to a question, he pointed out that the purchase of silver would be contrary to the proidsions of the Finance Ac:.
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Hokitika Guardian, 30 June 1932, Page 6
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143TO AID STERLING Hokitika Guardian, 30 June 1932, Page 6
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