Washington, Dec. 22 In view of the close relationship between the lira and the frane, the Secretary of the Treasury, Mr. A. W, Mellon, and the Federal Reserve Board believe that Italy's adoption of the gold standard probably will be the forerunner of similar action by France.
Mr. Mellon is of the opinion that Italy's action will not require a substantial exportation of gold from the United States and that it will not appreciably affect business, ince banking citoles have been Meanwhile, the Vice-Governor of the Federal Reserve Board draws attention to the fact that Spain has a sufficient stock of gold to adopt the gold basis at any time.—Reuter,
Text read from the printed page and cleaned; old type leaves the occasional error.