RETURN TO GOLD
LEAGUE’S RECOMMENDATION FINANCIAL DELEGATION’S REPORT (Received June 10, 3 pan.) GENEVA, June 9. A return to the gold standard, the desirability of a rise in price levels, and aid to the Central Banks were advocated in the final report of the gold delegation of the League of Nations’ Financial Committee. A return to the gold standard, however, cannot be expected pending the restoration of a reasonable degree of freedom in movements of goods and services, the settlement of reparations and war debts and the establishment of certain guiding principles in the working of the gold standard. The delegation considers that the rapid decline in prices beginning in 1929 cannot be attributed to a deficiency hi the gold supply, which has been adequate to support the credit structure required by tlio Board of Trade. A minority report, signed by the chairman,.M. Albert Jundsem, Sir Reginald Mant and Sir Henry Strakosch, contends that the dominant cause of the breakdown was the maladministration of the gold reserves, beginning in 1929, and emphasises the practicability of restoring and maintaining gold prices at a suitable level by a concerted attempt to restore the wholesale prices to the 1928 level.
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Bibliographic details
Poverty Bay Herald, Volume LIX, Issue 17802, 10 June 1932, Page 11
Word Count
197RETURN TO GOLD Poverty Bay Herald, Volume LIX, Issue 17802, 10 June 1932, Page 11
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