THE MONEY CRISIS.

Taranaki Daily News, Volume L, Issue 61, 9 November 1907, Page 2

THE MONEY CRISIS.

FURTHER RISE IX BANK RATE. London, November 7. The Bank of England rate has been irther raised to 7 per cent. EW YORK'S GOLD IMPORTATIONS. Received Nov. 8, 9.20 p.m. New York, November 8. Contracts entered into for the imortation of gold to New York, with ■hut has already arrived, amount to 1:7.820,000. 'IIE DRAIN OX LONDON RESERVE GOLD. EXCESSIVE BANK RATE INEFFECTIVE. Received Nov. 8, 9.34 p.m. London, November 8. The advance in thel?nglish Bank rate ms caused a depression oh the Euroloan Bourses. The French Bank rate Is lixed at four. The Belgian and Indian have also advanced. _ _ T'je Financial News says it is too much to hope that the high Bank rate will entirely stop the drain oil gold. The Financial Times declares it is unwise to assume the zenith in the matter of Bank rates is yet reached. Neither seven, or perhaps ten, per cent, can prevent the drain to New York. The check must come : either oy the Americans abandoning their policy of hoarding, oi heroic measures on the part of thf American Government.