DOLLAR SLUMP

Hokitika Guardian, 21 September 1933, Page 5

DOLLAR SLUMP

NEW LOW LEVEL IN COMPARISON WITH GOLD (United Pr*>&s Association—By Electric Telegraph—Copyright.; WASHINGTON, September 19. To-day the dollar fell to a new low lex el in compaiison to tlie gold currencies, and it was quoted at (14.65 cents in relation to the franc. Sterling to-day dosed at 4 dels. 80§ cent, m advance of 3-J cents. Fcr tiic third consecutive day, the Stock Exchange failed to rally strongly on the falling dollar. A few industrial shares went up slightly and otherwise -the closing prises were erratic. j

ENGLISH FOREIGN EXCHANGE

MARKET NOW LESS IRREGULAR !

RUGBY, September 19

Following yesterday’s slump in the dollar which after .touching 4.82 rate on New York, closed at 4.79 J, the conditions on the foreign exchange market were less irregular this morning, the dollar opened at 4.78, and. wa3 later quoted -at 478 J, Paris 79J, Rending a clearer foreign exchange, other business in the stock market was of modest dimensions, to-day. British funds were solid, war loan £IOO 12s od.

The price .of gold in London was unchanged to-day, remaining at 131/9.

CURRENCY INFLATION DEMANDS

TO AID U.S. AGRICULTURE

WASHINGTON, September 19,

Apace with the renewed demands for currency inflation to aid United States agriculture, the Administration to-day disclosed its plans for the spreading of four .hundred million dollars over the farm States within the -next six months, so as to ease the farmers’ mortgage burdens.

Concurrently with this announcement, made by the Farm Credit- Administ'i'tion, the spokesmen for the cotton and the -silver industries pressed upon White House the demands of industries for currency expansion immediately, as a part of the Recovery campaign.

,A gigantc 'march rtn Washington next month is proposed by Mr Thomas .as a pro-inflation demonstration. Unless the President acts meanwhile, Mr Thomas preposes to have a million farmers, industrial workers and war veterans from all parts of the nation parade in the streets of the capital. DEPUTATION TO PRESIDENT. (Received this -day at 11.50 a.m.) . WASHINGTON, September 20. Mr Roosevelt announced to-day that he would receive a southern delegation urging United States currency inflation. Meanwhile he has maintained strict silence in regard to his views on the subject.