ON DUE DATE
(Press. Assn.—
i PAYMENJ C>F DEBTS FRENCH AND AMERICAN CREDITS TO BANK OF ENGLAND SIGN OF FiNANbii-L STREDlGTH
-By T,elegraph — Copyrlght).
Rec. Jan. 26, 9.0 p.ml LONDON, Tuesday. The Bank of England announces that it will repay on January 31 tHe credits. of £15,00b,O00 eqchj being tna balance of the £50,d00;000 advanced by.ihe Federal ReservetBank of. the Uhited States and the Bank of France, iri August to assist sterling excharige. , . The repaymeiit. dogs n^t ii\ybive a reduction iri the hank's gold reserye, or an increase iri the ficluciary issue. "The best news the markets have had for months," said .the ','Times" iri a lea'der ,ref erring to the. rep^ayrijent. "It is .a notable sign of the Bank of England's strerigfh, denionstrating qpnfiderice iri its resources, especially when mariy banks ^throughout the world are gravely eipbarrassed. It will increase British financial prestige arid prove the pound's ability to iriaintain its pbsitiori." Jndian goid, arrivalSj %ve now reached £3O,(OO0,Op0) ,and these have indirectly been heipfui.
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https://paperspast.natlib.govt.nz/newspapers/RMPOST19320127.2.28
Bibliographic details
Rotorua Morning Post, Volume 1, Issue 132, 27 January 1932, Page 5
Word Count
166ON DUE DATE Rotorua Morning Post, Volume 1, Issue 132, 27 January 1932, Page 5
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