WAR DEBTS
PRESENT VALUE OF GOLD. WHAT BRITAIN REALLY PAYS. (United Press Association-By Electric Telegraph Ojiy right.-* LONDON, Feb. 11. Mr Francis Hirst, a noted economist, speaking at the National Liberal Club, said: “All nations and Governments are involved in the war debt question. If only they recognised that it was to their interests, they would participate eagerly in a concerted effort to stabilise the value of gold."
The case for readjustment was that the debts arid reparations had been contracted when gold was much less valuable. Now it is overwhelmingly strong and presents no practical difficulty. An ounce of gold has now double or more the purchasing power it had when Britain incurred her debt to America. The British annual payments of £33,000,000 are now really £66,000,000. A fair payment in interest and principal would be £46.600.000.
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Hawera Star, Volume L, 14 February 1931, Page 6
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138WAR DEBTS Hawera Star, Volume L, 14 February 1931, Page 6
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