WORLD'S NEED OF GOLD.
GOVERNOR-GENERAL'S VIEWS.
WAGES AND PURCHASING POWER..
The world wanted gold and New Zealand was performing a service to the world at large by winning larger quantities of gold, said the Governor-General, Lord Bledisloe, when replying to the welcome extended to him at Morrinsville on Saturday. They were not, however, wholly dependent, on gold, as Britain had discovered when adopting sterlingThere was no virtue in gold or the pound sterling beyond its purchasing value. He had heard it said that it would be a sad thing for this country if wages and salaries were reduced, but there would be no hardship if they wer® not rectuced in relation to their purchasing power. There was no virtue in * pound worth 15s. It was far better to have a pound worth 255.
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Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21225, 4 July 1932, Page 8
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133WORLD'S NEED OF GOLD. New Zealand Herald, Volume LXIX, Issue 21225, 4 July 1932, Page 8
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