NO NEED FOR GOLD
RESERVE BANK SHOULD EXPORT. (Per Press Association.—Copyright.) CHRISTCHURCH, This Day.,, Replying to a question asked at a meeting of the Canterbury branch of the Economics Society—whether the Government should export £4,500,000 of gold reserve held by the Reserve Bank—Professor A. H. Tocker, Professor of Economics at Canterbury University College, stated that there could be no possible need for gold within New Zealand, whereas if it were exported it could be sold at- a useful profit. Funds realised in that way, he said, could be held in London, and added, to the Dominion’s reserves there. Gold would be changed into sterling 'in which form New Zealand needed ; it. It would be available in London for overseas payments.
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Northern Advocate, 15 September 1934, Page 9
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120NO NEED FOR GOLD Northern Advocate, 15 September 1934, Page 9
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