BACK TO GOLD.

Hawera Star, Volume XLVIII, 5 December 1924, Page 8

BACK TO GOLD.

bIK, 1-1. BEADDiIi AMP'S VIEWS. Sir 11 a.oid Beauchamp, in an inter>iv;Av in AUOivlanu, saiu iu was aiusoiut-eiy utv.-e.s.vary tor me Vjoverniiieiic to e-i----v-ei‘d the peuoLi iur winch notes will be tenuci. iUany peupni had su«gosted that the country shou.d get uaek to goid basis as quickly as posable. x'ue gold heiu in i\ew Zealand >vas about six and a halt or seven millions, and it it were brought into circulation it could quickly filter away from the Dominion. As to the restoration >i the. gold standard in the United Kingdom, it should be realised that all the gold available was required lor exjioit to the United States to pay rin'-mits due to Great Britain. From ui.aneial resources, he knew that last year sixty-six millions sterling, representing almost the total gold output of the world for the year, had been shipped by Great Britain to the United States. It was quite impossible for Britain to discharge her obligations to the by any other means than die payment of gold. She had realised •heady most of her American .securities, and owing to the high, fiscal wall ‘■•bet surrounded the United States, it was priWicaUv impossible for Britain to ony f''e amounts due in merchandise. The trade between the two counties was pUeyhitelv lop-sided. Exports torn the. United States largely exceeded the im.po.-ts from Britain. There was no nossihle, chance of any alteration, in the position.