Financial Notes
CONFIDENCE INCREASING.
Avrnoucal general business in public securities has been restricted in view of Budget and General Election uncer- tainties, there has been some further advance in a good many Stock Exchange securities, due in the main to a growing feeling of hopefulness with regard to the monetary situation. A further moderate amount of gold has been secured by the Bank, and while the financial outlook in the States still remains obscure, it is felt that there has been at least some curtailment of the speculative position in Wall Street and this had a reassuring effect upon markets generally. Not, of course, that there is any expectation of any early return to easy money, but it must be remembered that part of the depres- sion was due to acute apprehensions of an early further rise in the Bank rate and relief from those apprehensions is the chief explanation of the recovery of the last week or two, * * * *
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