THE GOLD STANDARD.
RETURN RECOMMENDED. By Telegraph—Pros Assn.—Copyright. London, July 2. The opinion that a general return to (the gold standard is needed was expressed by Mr. Pember Reeves, chairman of the National Bank of New Zealand, at the annual meeting in London. Be said that whilst the excess of New Zealand exports continued, with the resulting accumulation of New Zealand funds in London, rates must rule against exporters and in favour of importers. A solation could only come when there was a general return to the gold standard, when, if the fate of exchange went beyond the gold point, trade balances would be adjusted by gold shipments. , The report and accounts were adopted and, at a subsequent extraordinary meeting, a resolution was carried authorising the directors to increase the bank’s capital to six millions sterling by the issue of 200,000 shares.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/TDN19240704.2.55
Bibliographic details
Taranaki Daily News, 4 July 1924, Page 6
Word Count
142THE GOLD STANDARD. Taranaki Daily News, 4 July 1924, Page 6
Using This Item
Stuff Ltd is the copyright owner for the Taranaki Daily News. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in