GOLD EXPORT BILL.
THIRD READING IN HOUSE.
LOWER MINIMUM RESERVE.
(Received June 17, 11.15 p.m.)
CANBERRA, June 17
The bill to authorise the export of £5,000,000 worth of gold to meet the Commonwealth Treasury bills due on June 30 has been passed by the House of Representatives.
The Federal Treasurer, Mr. E. G. Theodore, said there was no alternative but default. Tho Opposition assented to the measure.
The bill reduces the statutory reserve of gold from a minimum of 25 to 15 per cent.
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Bibliographic details
New Zealand Herald, Volume LXVIII, Issue 20902, 18 June 1931, Page 11
Word Count
84GOLD EXPORT BILL. New Zealand Herald, Volume LXVIII, Issue 20902, 18 June 1931, Page 11
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