CURRENCY PROBLEMS
THE ATTACK ON GOLD. ...—— DUTCH BANK RATE RAISED. DEVALL’ATION 0F FRANG LIKELY. _— l'nited Press Assn—Elec. Tel. Copyright. {Reached June 1. 3.45 pm.) LQXDON. May 31. The ‘rlHEll'k on gold currencies has rewommonced. The Dutch authorities alarmed at the resumption of the gold drain. acted with their usual promptness and raised the bank rate. with favourable results. it is generally recognised, however. that the Dutch and Swiss curi‘entie; will Stuntl or fall with the franc. which has «11-reinperl :1 fresh weakness. which only intervention of London control has liept within reasonable limits. It is now considered certain that _\'l. Blum‘s Government will early propose in Parliament mild devaluation. It is committed to a large public works programme, for which it relies partly on the expansion of credit through the Bank of France and partly on public loans. It will not be surprising if devaluation is acl‘epted without panic. The great financial interests which have been long prepared for it. are now covertly advocating it. The Bourse is firm despite the Strikes. _—__
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Waikato Times, Volume 119, Issue 19900, 1 June 1936, Page 8
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172CURRENCY PROBLEMS Waikato Times, Volume 119, Issue 19900, 1 June 1936, Page 8
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