“VERY SERIOUS”
LOSS OF DEVALUATION POWER ACTION OF AMERICAN SENATE. MR MORGENTHAU STATES CONSEQUENCES. By Telegraph—Press Association —Copyright. (.Received This Day, 12.40 p.m.) NEW YORK, June 29. The “New York Times” Washington correspondent says Mr Henry Morgen than (Secretary of the Treasury) commenting in the Senate on the withdrawal of the devaluation power, said might, this endanger the Tripartite Agreement with Britain and France. Furthermore, if the entire Monetary Bill failed in its passage through Congress by tomorrow, the two billion dollar stabilisation fund would revert to the general funds of the Treasury and before it could be used thereafter in any international monetary stabilisation undertaking, or as a weapon against competitive devaluation. of currencies, it would have to be re-es-tablished by new legislation. - Mr Morgenthau added that he considered the situation “serious, very serious.”
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Wairarapa Times-Age, 30 June 1939, Page 6
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135“VERY SERIOUS” Wairarapa Times-Age, 30 June 1939, Page 6
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