Nine tons of Gold.
No sooner had the Commonwealth Treasury opened on December 29 than further additions were received to the gold reserve which is being built up as against the Commonwealth note issue. When the holidays commenced the Commonwealth had issued £3,500,000 in notes to the banks, and was holding £1,100,000 in sovereigns as a res- rvo. Up to the 28th notes to the value of £4,000,000 has been issued, and the reserve during the day increased to £1,132,000. These reserve sovereigns weigh over nine tons. That portion of the reserve stored in the Treasury strong room is guarded night and day by a detachment of soldiers from the Royal Australian Artillery, and Itehind the bars protecting the entrance can be caught glimpses of service bayonets.
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Bibliographic details
Lake Wakatip Mail, Issue 2901, 10 January 1911, Page 5
Word Count
127Nine tons of Gold. Lake Wakatip Mail, Issue 2901, 10 January 1911, Page 5
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