GOLD PRICE RISE IN N.Z. CHANGES THE POSITION

Grey River Argus, 29 September 1949, Page 5

GOLD PRICE RISE IN N.Z. CHANGES THE POSITION

Finance Minister’s Reply to Mr Kent

(Special to “Argus”) WELLINGTON, September 28

Before and since the devaluation of sterling, and the consequent large inmease in the price of gold, Mr J. B. Kent, M.P. for Westland, renewed representations on behalf of the gold ndustry in Westland, to the Government. for assistance.

To-day, Mr Kent has received the ■oilowing letter from the Minister of Finance, the Rt. Hon. W. Nash: — “This note is sent to acknowledge the representations which you have continuously made with regard to the ;teps necessary to help the West Coast, on account of the fall in the price of gold occasioned by the alteration of the exchange rate in August last year.

“As you know, the decision of the last week or so have completely changed the position as far as gold is concerned, and it does not appear, at present, that any further action is necessary in connection with your representations.

“I much appreciate the continued way in which you have made representations for the benefit of the people of the West Coast and can assure you that, at any time, I would be mor e than pleased to co-operate with you in the work you are undertaking”.