PRICE OF GOLD.
GUARANTEE ASKED.
PETITIONERS WANT £10 4/4 OZ. (By Telegrapli.—Parliamentary Reporter.l WELLINGTON, this day. A petition by Joseph Stephens, miner, of Mosgiel. and 40 others, praying for a guaranteed price of £10 4/4 ail ounce for gold was presented to tlie House of Representatives yesterday by Dr. D. G. McMillan (Government, Dunedin West). Petitioners said that the price suggested was equivalent to what a free consignment of gold would command in New Zealand currency. They contended that as New Zealand had a Reserve Bank of its own the mining industry should not be charged with the cost of shipping gold to London, but that such charges should fall on the Reserve Bank when it exported gold it purchased. "A guaranteed price for gold would create a feeling of stability not only in the mining industry, but in financial circles generally, and would increase employment in mining operations and heavy industries," concluded petitioners.
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Bibliographic details
Auckland Star, Volume LXX, Issue 210, 6 September 1939, Page 5
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154PRICE OF GOLD. Auckland Star, Volume LXX, Issue 210, 6 September 1939, Page 5
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