BRITISH EMPIRE NEWS.

Taranaki Herald, Volume LIV, Issue 13662, 28 March 1908, Page 5

BRITISH EMPIRE NEWS.

NATIONAL FINANCE.

By Electric Telegraph. — Copyright. LONDON, Marcli 27.

'Lecturing on the Exchequer of the war chest in Britain, and the necessity of- 1 a greatly increased gold reserve, Sir Robert? Giffan Urged' the possibiKty that some great War would break down the whole system of international credit. He emphasised that the banking position" wag one of real danger, for againtit the liabilities, which exceeded nine' hundred millions, the available reserves at the most did not exceed fifty millions. He suggested that the Government should take such measures With liheir own banking arrangements as would enable the Bank of England to add to its normal reserves m times of peace. '