GOLD STANDARD

Feilding Star, Volume 9, Issue 3798, 16 August 1932, Page 5

GOLD STANDARD

I CURRENCY RETORT APPROVED PC LIGHTEN BURDEN OF DEBT [Aust. and N.Z. Uab!«) London. August 15. The Morning Post’s city editor ( S ays the report of the monetary 'committee at Ottawa meets with ■the entire approval of the tity though it is still a problem, how to avoid the credit. facilities being abused by speculators. The report contains no high-flown recommendations for stabilising Empire exchanges by the use of a common medium nor is there any outright recommendation lor a return to the gold standard, though this is implied |j v ihe endorsement of Britain s action ’ill establishing machinery, for preventing wide fluctuations i»i the gold value of the sterling. This is a recognition (that the sterling and Dominion curreMc-iea should not fluctuate wthout any re-

gard to gold, thus paving the way for the deflnite .re-d«tablislniH|it when a satisfactory world standard ig achieved by intoiiniticnul action. Tho Ottawa recommeiidatiwi.s should he capable of complete endorsement by the Intern,at ionnl Conference in. October. Summed tip they aim a.t light erring tlie burden of debt i'll all countries by reversing tlie forces which rendered their weight* in terms of commodities intolerable.