The stabilisation loan is to the fi ved during the year. It was pointed out that value of £10,000,000. Two British anticipated expenditure amounting to some banks have subscribed £5,000,000 on with 1938 was almost entirely attributable the Government guaranteeing against possible loss, while twp Chinese banks of the local dollar. have subscribed the remainder.
In additio& the increased cost of It is understood that the interest direct foreign currency commitments, is exceptionally low. the-Temporary High Cost of Living Sir John Simon announced that the Bonus recently authorized for the Treasury had agreed to give two Foreign and Chinese staff could be British banks guarantee against loss. related in some measure to the fall A Bill is being prepared to give im exchange; furthermore there were Legislative approval to this. a large number of items in the gen-The Chancellor of the Exchequer, eral expenditure of the Council in his statement, made reply to Rt where this factor came' into operation Hon. F. W. Pethick-Lawrence, Labour in a greater or less degree.
MP. for Edinburgh, who invited a The anticipated increased expendi-statement regarding proposals to ture was offset to & large extent by assist to: maintain the stability of the the increased revenue that was ex-sterling value of the Chinese dollar. pected to accrue from a diminution in "The stability of the Chinese dollar Vice-Presidential Night in the Capital empty properties, from industrial deis a matter of great importance to Vice-President and Mrs. Garner entertained President and Mrs. Roosevelt to dinner at their apartvelopment and from higher royalty Britain, in view of our financial and ment in the Washington Hotel, Washington, and it was therefore the Vice-President's night. Cabinet payments receivable from the utility economic, relations with China," Sir members and their wives were among other: present. Left undertakings, There remained, how-John Simon said.
Text read from the printed page and cleaned; old type leaves the occasional error.