MONEY IN CANADA
DEPARTURE FROM GOLD STANDARD PROTECTION OF HOLDINGS. Press Association—By Telegraph—Copyright. OTTAWA, October 31. The ‘ Montreal Star ’ of to-day stated; “Because of the stringency which has existed in Canada for money;, and in order to protect Canada’s position with regard to its gold holdings (the country has been unofficially off the gold standard for six months), at the verbal request of the Minister of Finance (Mr J. A. Robb) the banks have refrained from shipping gold. Although Canadian currency is at a discount they have been making New York shipments profitable. This condition has been existent for some time, but it "was not generally known that Mr Robb had taken this step. The situation is regarded as extremely acute, but it is believed that conditions will right themselves in the ordinary course of events.” REPORT DENIED. OTTAWA, November 1. The Federal Department of Finance has denied positively that Canada has departed from the gold standard.
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Evening Star, Issue 20322, 2 November 1929, Page 15
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157MONEY IN CANADA Evening Star, Issue 20322, 2 November 1929, Page 15
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