RETURN OF GOLD CURRENCY
AUSTRALIAN PREDICTION. A. and N.Z. SYDNEY. Feb. 12. Mr. Armitage, secretary of the Commonwealth Bank, says that when the, American exchange reaches parity England and Australia will have a free gold market, and sovereigns will again be added to the currency, though not to such an extent as before the war, owing to the popularity of notes. Mr. Armitage predicts the use of sovereigns within a year. MELBOURNE, Feb. 12. Mr. J. R. Collins, secretary of the Treasury, says that no official announcement can be made respecting the circulation of gold. Referring to the note issue, he says that the notes in circulation are valued at £52,651,000, against a gold reserve held to the value of £24,426,000.
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Bibliographic details
New Zealand Herald, Volume LX, Issue 18323, 13 February 1923, Page 7
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121RETURN OF GOLD CURRENCY New Zealand Herald, Volume LX, Issue 18323, 13 February 1923, Page 7
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