RESTORING GOLD STANDARD
AFTER-WAR PROCEITOE.
OESSATION OF BORROWING CENTRALISING RESERVES. (Received 7.45 pm.) Reuter. LONDON, Oct. 30The committee headed by Lord Cunliffe, Governor of the Bank of England, in an interim report says it is imperative that conditions necessary to maintain an effective gold standard should be restored without delay after the war. To effect this Government borrowing must cease as soon as possible after the war. The machinery for making the bank rata effective must be kept in working order. The issue of fiduciary notes must bo limited by law as soon as practicable. An early resumption of the circulation of gold coin will not be necessary or dosirable. While the import of gold should be free, all restrictions on export should be subject to the condition that such gold bullion has been obtained frou. the Bank of England for the purpose. All the country's gold reserves should ba held by one central institution. All banks should transfer any gold they hold to the Bank of England.
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New Zealand Herald, Volume LV, Issue 16996, 1 November 1918, Page 5
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168RESTORING GOLD STANDARD New Zealand Herald, Volume LV, Issue 16996, 1 November 1918, Page 5
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