CURRENCY PROBLEMS
THE ATTACK ON GOLD. DUTOH BANK RATE RAISED. DEVALL'ATION OF FRANC LiKELY. ' United Press Assn—Elem Tel. copyrightLONDON. May 31. The attack on gold currencies has re-commenced. The Dutch authorities alarmed at the resumption of the sold drain, acted with their usual promptness and raised the bank rate, with favourable results. It is generally recognised, however, that the Dutch and Swiss currencies will stand or fall with the franc. which I has developed a fresh weakness. which only intervention or London control has kept within reasonable limits. It is now considered certain that M. Blum‘s Government will early pro—pose 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 accepted without panic. The great llnancial 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 19901, 2 June 1936, Page 8
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167CURRENCY PROBLEMS Waikato Times, Volume 119, Issue 19901, 2 June 1936, Page 8
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