GOLD DISPLACED.
ONLY ARABIA ON STANDARD. Political economists and practical men scoffed or grieved when _ William Jennings Bryan cried in 1896, “thou shalt not crucify mankind on a cross of gold.” Bryan’s panacea was free coinage of silver at a ratio of 16 to 1 with gold. Gold has to-day been displaced in favour of paper, which is even cheaper and more plentiful than the silver Jin which Bryan placed his faith. All the world except Arabia lias gone off gold, or devalued tli egold basis of their curreeny, and even where gold is most When the Bank of England casually posted a notice that it had bought £65,000,000 worth of gold, nobody expected for a moment that sovereigns would again be seen outside of museums and bank vaults.
While M. Vincent AurioJ, French Minister of Finance, was trying to entice gold hoarders ’to hand, their funds over to the Government, Lord Monkswell stated in the House of Lords that unless the British people save £700,000,000 a year the nation is doomed to a “pauper’s funeral.”
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/MS19361230.2.134
Bibliographic details
Manawatu Standard, Volume LVII, Issue 25, 30 December 1936, Page 8
Word Count
176GOLD DISPLACED. Manawatu Standard, Volume LVII, Issue 25, 30 December 1936, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Manawatu Standard. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in