LESS GOLD IN COIN
WRITING UP HOLDINGS MONEY FOR PUBLIC WORKS LONDON, June 20. "Daily Mail" experts calculate that the real equivalent of the pound js between 3.40 and 3.60 dollars. To make it 4.05. dollars, as some suggest, would bring a grievous increase iv British unemployment. If the pound were-over-valued export industries would be handicapped. The city editor of tho "Daily Express" says a world-wide devaluation of currencies is believed to be imminent. Financial authorities now recognise that no stabilisation is possible until tho amount of gold in each coin is reduced, when tho Central Banks will be able to write up the value of their gofd holdings. Thus the Bank of England's holding, with gold at 140s, woul<j be valued at £300,000,000 instead of £187,000,000, and tho 140s basis would raise the United States holding to £1,200,000,000 and thus provide money for an increased programme of public works.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19330621.2.62.3
Bibliographic details
Evening Post, Volume CXV, Issue 144, 21 June 1933, Page 9
Word Count
150LESS GOLD IN COIN Evening Post, Volume CXV, Issue 144, 21 June 1933, Page 9
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in