In connection with the Treasury jouncement, Reuter learns there has been no variation in the oficial sterling-dollar rate since the outbreak the war and there is no present intention of changing it, The sterling-dollar rate in the free market has depreciated considerably with violent. Muctuations. While th greater proportion of British foreign {rade is conducted on the basis of the oMmelal rate, some parts of British exports are "being sold for sterling fon the basis of the unreliable free market, which is so widely diverged from the official rate as to render Imports paid for on this basis relatively to. expensive, while exports are being bought too cheaply.
The Treasury's policy aims at, all foreign business being conducted at
Text read from the printed page and cleaned; old type leaves the occasional error.