GOLD HOLDINGS
THE RESERVE BANK
REVALUATION EXPECTED
(By Telegraph—Press Association.)
AUCKLAND, This Day. Revaluation of the Reserve Bank gold holdings of £2,800,000 is expected during the next few months, according to Auckland opinions. This is regarded as the only alternative to a?drastic curtailment of credit and currency hi the Dominion.
It is claimed that at present the gold value reserve could be written up to more than double its figure as shown in the weekly returns, and would provide the basis for about £11,000.000 worth of Currency and credit expansion. This would assist in overcoming in part the stringency in the overseas funds and would assist trade during a critical period.
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Bibliographic details
Evening Post, Volume CXXVIII, Issue 15, 18 July 1939, Page 11
Word Count
111GOLD HOLDINGS Evening Post, Volume CXXVIII, Issue 15, 18 July 1939, Page 11
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