Facts & Figures, Nov. 3, 1947

Down the Dram. Britain laid her hands on an additional $240,000,000. She "bought" $120,000,000 from the International Monetary Fund, i.e., exchanged pounds for dollars. The rest she got by selling gold to the U.S. As Britain has now drawn $180,000,000 from the Fund, she can draw only around $151,000,000 more. Her total gold and dollar reserves are now down to some $2,500,000,000. Despite new cuts in imports, Chancellor of the Exchequer Hugh Dalton said that the sterling area's gold and dollars are still being drained "at a ruinous rate of $70,000,000 a...

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