“NO MORE GOLD”
DEBT CAN BE PAID ONLY IN y , ; GOODS , ! . . ; LONDON, Jan. 20. Air. F. 0. Goodeuough, chairman of Barclay’s Bank, in his annual report to shareholders to-day commented outspokenly on the war debt owed the United, States, and declared that the payment of further sums in gold may be dismissed as impracticable. This is true, he said, because if Britain handed over to America £120,C00,C00 in gold now hold as the backing for British currency, it would defer for long and possibly for ever the return to the gold standard not. only by Great Britain, but by other countries whose currencies are linked to sterling. He said he thought America and the rest of the world would regard this as an international disaster. “The only alternative to payment in gold is payment in goods,” he asserted, lie felt that Britain should not pay a further debt instalment, “until the whole matter has been discussed and an agreement for a final settlement has been reached.”
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Bibliographic details
Poverty Bay Herald, Volume LX, Issue 18025, 28 February 1933, Page 3
Word Count
166“NO MORE GOLD” Poverty Bay Herald, Volume LX, Issue 18025, 28 February 1933, Page 3
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