TAKING BANKS' GOLD.
STOCK EXCHANGE VIEW. Iu liis address at tlie annual meeting of the Wellington Stock Exchange, the chairman, Mr. E. Bucholz, who is also president of the New Zealand Stock Exchange Association, referred to the conditions under which it was proposed the Central Bank should acquire the gold reserves of the trading banks. While the stock exchanges hesitated to take sides in any debate impinging on politics, Mr. Bucholz said he felt it his duty, as chairman of an institution representing the investing public, to express an opinion. To take compulsorily the banks' gold at the standard price, payable not in sterling, but in an inflated currency, inflicted a hardship ou that large section of the general public which had invested in bank shares. This opinion, based on equity, conformed with eminent New Zealand counsel's opinion of the legal position.
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Auckland Star, Volume LXIV, Issue 282, 29 November 1933, Page 4
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142TAKING BANKS' GOLD. Auckland Star, Volume LXIV, Issue 282, 29 November 1933, Page 4
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