RESERVE RANK GOLD.
REVALUATION EXPECTED. Per Press Association. AUCKLAND. July 18. A revaluation of the Reserve Bald; gold holdings of £2,800.000 is expected during the next few mouths, aceoiding to Auckland opinions. This is regarded as the only alternative to a tlrustic curtailment of credit and currency in tho Dominion. It is claimed that at present the gold value of the reserve could be written up to more than double its figure shown in the weekly returns, and would provide a basis for about fill 000,000 worth of currency and credit, expansion. This would assist in overcoming partially tho stringency m the overseas funds, and would assist trade during the critical period.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/MS19390719.2.151
Bibliographic details
Manawatu Standard, Volume LIX, Issue 195, 19 July 1939, Page 11
Word Count
112RESERVE RANK GOLD. Manawatu Standard, Volume LIX, Issue 195, 19 July 1939, Page 11
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.