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News of the Week The Safety of Sterling IT was

announced from the Treasury late on Friday, August 28th, that the "financial authorities " in New York and Paris had agreed to support the pound on this basis : " In the case of America the arrangement is that a financial group undertake, if called upon, to take up British Government Dollar Treasury Bills to a total not exceeding $200,000,000. In the case of France agreement in principle has been reached with a view to making available a sum not exceeding five milliards of francs, partly in the form of a credit from French banks and partly by an issue of British franc Bills to the French public. The sum to be borrowed in each centre will be for the term of a year."

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