GOLD STANDARD.

Manawatu Standard, Volume XLV, Issue 127, 2 May 1925, Page 5

GOLD STANDARD.

PROPOSALS CRITICISED. LONDON, April 30. * In the House of Commons, the gold standard decision was assailed by a broadside from the Conservative member, Sir Frederick Wise, the financial expert, who, after a detailed criticism of whp.t he termed a gamble which would probably benefit nobody but the United States, declared that we did not wapt to borrow more from America and certainly did not want to be in her hands.■—A. and N.Z. cable.

FIXING NE^EXCHANGE DIFFICULTyIn THE WAY, Received May 2, 8.60 a.m. SYDNEY, May 1. The Australian bapkers who conferred with the object of fixing a new exchange rate owipg to the altered conditions caused by the return to the gold standard, failed to reach an agreement. It is understood that the chief difficulty is to arrive at a margin of buying and selling satisfactory to all parties. It is believed that an agreement will shortly be reached. — Press Association. EMPIRE’S RESOURCES. ANOTHER TESTIMONY PAID. Received May 2, 9.45 a .in. SYDNEY, May 2, Dr. Earle Page, when interviewed, ppid that the return to the gold basis is another testimony to the financial strength and resources of the Empire. “The return to free gold export must have a great influence in stabilising the exchange. It will tie interesting to see its effect on prices, especially in view of the fact that during the last few months the Australian pound has been at a premium in America. Consequently the return to the .gold basis should not cause much., fluctuation in price levels.” —Press Association.