GOLD AS BASE

Manawatu Standard, Volume LIII, Issue 254, 23 September 1933, Page 7

GOLD AS BASE

FRENCH RETENTION STRUGGLE. MANUFACTURERS MAKE APPEAL. DECLINE IN EXPORTS. (United Press Association—By Electric Telegraph.—Copyright.) Received September 23, 8.40 a.m. PARIS, Sept. 22.' A significant sidelight on France’s fight to remain on the gold standard is the united manufacturers’ “supreme appeal” to M. Daladier to reduce living and manufacturing costs to enable France to regain her lost markets. Exports since 1929 have fallen from 50,139,000,000 francs to 19,633,000,000 and are continuing on the same scale. The appeal points out that many firms have closed their exporting departments. HOLLAND’S POSITION. MAINTAINING THE STANDARD. THE HAGUE, Sept. 21. Holland is balancing her budget deficit of 270,000,000 florins by imposing new economies and taxation, and prolonging temporary taxation. The Finance Minister says the gold standard must be- maintained, as the Government refuses to experiment with the currency. Accordingly it is necessary that Holland should adjust herself to a lower standard of living. CURRENCY CONNECTIONS. MR NORMAN’S DISSOCIATION. LONDON, Sept. 22. Mr Montagu Norman, governor of the Bank of England, at the halfyearly meeting of governors of the bank, said: “I hope I can dissociate myself for the future from connection with currency. I am not wholly responsible for some of these questions, which lie elsewhere.”