BRINGING OUT THE GOLD

Taranaki Daily News, 23 October 1930, Page 9

BRINGING OUT THE GOLD

SALE OF JEWELLERY, i

AN AUSTRALIAN SUGGESTION.

Sydney, October 10. As a gesture of private economy and sacrifice, and of co-operation with the Australian Government in its financial plight,-citizens are ~ offering it. their jewellery, proposing to forego their loan interest, and so on. s' This had led Sir Frederick Waley, one of Sydney’s leading business men, to observe that; in the aggregate, the Australian people must own the equivalent of a large sum in ounces of “fine” gold in the form of jewellery. Much of this ■he says, would probably be available for sale to the Government if the Government were prepared to pay, in notes, the'“fine” gold value of this jewellery at a named price, after deducting cost of assaying and treatment. Theie would, he admits, be difficulty in dealing with smaller articles, especially those of low carat basis. Nevertheless, he thinks the idea «may be worth consideration by those better qualified- to. Apeak as to. its practicability. , > It is not improbable that a fairly considerable sum of privately-owned sovereigns is now stored away throughout the Commonwealth. .