WILL INJURE CREDIT
SUGGESTION OF DEFAULT Rec. Nov. 29, 7.40 p.m. London, November 29. The British debt note is ready for despatch to the United States by cable not later than Wednesday, says the Daily Telegraph. According to the Daily Herald, Mr. Montagu Norman, Governor of the Bank of England, told the Government that default would be disastrous to British credit. The Daily Herald city editor believes that the plan now favoured is the payment of the interest instalment eqnivalent to £13,500,000 at par and £21,000,000 at the eurrent rate of exchange, and request the United States for a postponement of capital payments of £6,160,000 at par and £9,000,000 at eurrent rates of exchange. It is considered almost certain that America will agree to the latter. It is understood that as regards interest, Mr. Montagu Norman suggests the payment he partly in gold and partly in dollars, mainly in the former.
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https://paperspast.natlib.govt.nz/newspapers/RMPOST19321130.2.27.3
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Rotorua Morning Post, Volume 2, Issue 393, 30 November 1932, Page 5
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151WILL INJURE CREDIT Rotorua Morning Post, Volume 2, Issue 393, 30 November 1932, Page 5
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