If the £65,000000 worth of gold, which was transferred to the Bank of England in 1936, be used to replenish the resources of the Exchange accounts and their value be written up from 85/- to 140/- per ounce, their sterling equivalent would become £107,000,000.
It is understood that the Government have instructed Sir Ronald Lindsay, Ambassador in Washington, to reject the American proposals in their present form.
According to authoritative circles, the British Government will not make any declaration on this subject, however, until after the November elections im the United States. London does not wish to embarrass the U.S, Government and is ready to make some concessions if the American delegation is ready to modify its demands.—Havas.
Text read from the printed page and cleaned; old type leaves the occasional error.