RESERVE BANK GOLD
OF NO USE IN NEW ZEALAND PROFESSOR TOCKER'S VIEWS [BY TELEGRAPH —PRESS ASSOCIATION] CIIRISTCHURCH. Friday 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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New Zealand Herald, Volume LXXI, Issue 21906, 15 September 1934, Page 14
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124RESERVE BANK GOLD New Zealand Herald, Volume LXXI, Issue 21906, 15 September 1934, Page 14
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