CURRENCY SITUATION

Taranaki Daily News, 6 October 1934, Page 5

CURRENCY SITUATION

GOLD STANDARD NATIONS. FEW MAINTAIN POSITION. The apparent movement towards a standard measure of currency values lends, interest to the fact that comparatively few important countries have remained oh the gold standard. Two only, Switzerland and Holland, have retained their currency on a par with, their prewar gold standard, while France, Italy and Belgium, while still on the gold standard, have effected a reduction from the pre-war level. Germany also maintains the currency with gold as the basis. In addition a number of less important nations, notably the eastern Baltic group, Poland and Czechoslovakia, are still nominally on the gold standard. The countries that have abandoned the gold standard are given below in the order of the time at which their currencies first depreciated in terms of gold: Uruguay, April, 1929; Argentine, November, 1929; Brazil, December, 1929; Australia, March, 1930; New Zealand, April, 1930; Venezuela, September, 1930; Mexico, August, 1931; United Kingdom, Canada, India, Sweden, Denmark, Norway, Egypt, Irish Free State, British Malaya, Palestine, September, 1931; Austria, Portugal, Finland, Bolivia, Salvador, October, 1931; Japan, December ,1931; Colombia, Nicaragua, Costa Rica, January, 1932; Greece, Chile, April 1932; Peru, May, 1932; Ecuador, Siam, June, 1932; Yugoslavia, July, 1932; Union of South Africa, January, 1933; Honduras and United States, April, 1933.