Macmillan Report exposes London's debts

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• Lords of Finance whole source · open book

  The Macmillan Report now revealed that the City’s short-term liabilities to foreigners came close to $2 billion. This was viewed as a shocking number even though it eventually turned out to be a gross underestimate—the true figure was closer to $3 billion.

  chapter: 20. GOLD FETTERS - 1931-33

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