Evening star., 1933-11-12
british. CONVINCED
|U.S. WILL RESORT TO
| GREENBACKS ISSUE
Internal Difficulties Expected
to Force RooseveIt's
Action Soon.
|FLIGHT OF AMERICAN
FUNDS BOOSTS POUND
London May Use Stabilization Ma
chinery to Keep Sterling From
Rising Too Rapidly.
special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, November 11.-Cables
and wireless dispatches to Business
Week give the following survey OF
business abroad for the week ending
today:
London.-The rise of the dollar this
week TO nearly 10 cents above It's oio
parity of S4.86 has convinced Britain
that internal difficulties in the United
States are going to force Washington
to issue greenbacks before long. AS
still baffied. The world market for
gold in London broke seriously during
the week, and recovered. Several small
purchases of gold are supposed to have
been made by the United States but
no one seems to know how extensive
they we're. The city is relying largely
on reports from Washington and New
York for its information concerning the
progress of the Roosevelt gold-buying
program.
It has become evident during the
week, however, that considerable vol
Time of refugee American funds Is seek
ing investment IN British and Cana
dian bonds. The exchange equalization
fund is not operating now, but If the
demand for British funds becomes so
great as to push the pound up too rap
idly, the fund will be used to counter
the American move.
Fears for Franc Grow.
London is not disturbed by the break
down of the war debt talks in WASH
ington, for this has been expected since
the announcement of the Roosevelt
gold program. The recent weakness of
the franc. however, is attributed by
many to the breakdown of the nego-
tiatiors since France was expecting
Washington and London to come to
some sort of dollar-pound stabilizing
plan as a part of the debt agreement.
This would have improved the chances
for France to remain on the gold
standard. The prospect now OF cur
rency devaluation race between Brit
ain and the United States weakens the
position of Paris. Devaluation of these
two great commercial currencies can
not GO much further without affecting
the French franc.
Next In business significance this
week was the definite announcement
that the British have renounced the
tariff truce into which most of the
important commercial nations of the
world entered last Spring in prepa-
ration for the World Economic Confer
CllCc. Dilbdui Id III LU way ulitldtlIlS
a breakup of the group, for nearly a
dozen nations have already signified
their intention to withdraw from the
pact. But the move by Britain is taken
by commercial London to mean that,
the government is preparing to use
vigorous tariff policy If it becomes nee
essary to protect British markets from
increasingly cheaper dollar exports. 1t
may also lead to a closer union of the
empire group of nations and to new
trade agreements among the sterling
group.
Reich 10 Vote Today.
Berlin.-Germany will go to the polls
Sunday, November IL. to vote its con-
hdence in Chancellor Hitler. On this
date the German people will be called
upon to cast their vote on two issues.
The first demands yes" or mo" to
the question whether 1t approves the
demand of equal rights for Germany
in all international dealings, and the
peaceful policy" of the present gov
Of electing a new Reichstag by voting
yes" or mo" in support of the Nazi
ticket.
This election Is something new for
Germans. Since Hitler came to power
all the old parties have either been
prohibited or have dissolved voluntari-
ly." There is, therefore, only one ticket
to be voted in the forthcoming cleo
tion-the Nazi. The voter simply will
vote for or against the Nazis.
The question arises why the Nazis
are resorting to the election of a new
Reichstag at all in view of their pre-
vious statements to the effect that
parliamentarism has been done away
with in Germany forever The official
answer is that the election of Novem-
ber IL, which incidentally is to be def
nitely the last, must not be considered
as an ordinary parliamentary election,
since all the old parties have been an
nlhlated and since there is no room
for any new ones. This election is
merely intended as a demonstration
OF the unity of the German people.
especially in the domain of foreign
policy.