EMPIRE BANKING
NEW ZEALAND'S EXAMPLE
RECOMMENDED TO REST
3IONETAIIY STABILITY
United Tress Association—By Electric Telecrai)h—.Copyrlßlil. I LONDON, October 15. I The "Financial Times" in an editorial on Empire banking recalls the announcement Of tho 7scw Zealand Reserve Bunk that no alteration in the London exchange rate is contemplated for a long time, and says that equallyimportant action will no doubt have to be taken by other new Dominion central banks within a measurable space of time. It was to be hoped that New Zealand's example would be followed and tho alterations in inter-Imperial rates would be few and far between. Indeed, Imperial monetary stability was the real basis of the Ottawa Agreements. Imperial co-operation with London in this connection was essential and postulated the need for some practical form of frequent consultations in which London would listen to the Dominions besides seeking to advise them. Each Dominion, however, possessed a full, measure of independence as regards its internal monetary policy, which no one in London would seek to circumscribe.
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https://paperspast.natlib.govt.nz/newspapers/EP19341016.2.62
Bibliographic details
Evening Post, Volume CXVIII, Issue 92, 16 October 1934, Page 9
Word Count
169EMPIRE BANKING Evening Post, Volume CXVIII, Issue 92, 16 October 1934, Page 9
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