CASH OR CREDIT?
A UNIQUE SITUATION.
PROMISES BETTEE THAN PAYMENT.
Australian and N.Z. Cab'e Association. (Press Assn. —Eecd. 9.35 p.m.) NEW YORK, October 29. Britain's insistence on paying for American purchases in gold is causing uneasiness in financial circles, which are beginning to favour the granting to Britain of a long-term loan without security, similar to the recent AngloFrench loan.
Gold payments for British purchases in America in 1916 reached ninety millions sterling The Americans fear that Europe will find the additional monetary unit, leaving the United States with great stocks of gold, for which there will be a depreciated demand. This is causing the unique situation of Americans preferring British promises to pay rather than accepting gold.
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https://paperspast.natlib.govt.nz/newspapers/NA19161030.2.18
Bibliographic details
Northern Advocate, 30 October 1916, Page 2
Word Count
118CASH OR CREDIT? Northern Advocate, 30 October 1916, Page 2
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