LEGISLATION NEXT WEEK

Taranaki Central Press, Volume V, Issue 457, 26 June 1937, Page 5

LEGISLATION NEXT WEEK

FINANCIAL STABILITY EXCHANGE EQUALISATION 200 Million Transaction Press Association —Copyright. (Received 11 a.m.) London, June 25. In asking the House of Commons for authority to increase the Exchange Equalisation Fund by 200 millions, the Chancellor of the Exchequer, Sir John Simon, stated that in addition to the recent dishoarding of gold, there had been much financial disturbance abroad, and the tendency was for capital funds to move to London. Questioned why only recently he had said the exchange fund was sufficient, Sir John replied that there was no sudden change in policy, but circumstances might develop. Mr Maxton asked why the urgency. What had happened since yesterday to cause the alteration in the House’s business? Sir John Simon said that doubtless Mr Chamberlain would make a statement about the order of buisness. “I am conscious of a great responsibility, and am confident that the action I am proposing should be taken," he said. Mr Chamberlain then announced •he necessary Bill, which will be taken through all stages next week, beginning on June 28' and concluding on July 2. The marke't interpreted Sir John Simon’s announcement io mean that the price of g'old will continue around 140 s, as a result of which there h'as been a sharp rise in gold shares.