GOLD STANDARD.

Star (Christchurch), Issue 17525, 30 April 1925, Page 7

GOLD STANDARD.

LIGHT DEMAND IN AUSTRALIA. Ifev Telegraph—Press Association—Copyright Australian and N.Z. Cable Association. (Received April 30, 12.10 p.m.) fcjVDNJCiY, April 30. Following on the announcement of iho return to the &old standard an informal meeting of representatives of the Associated Banks was held to 'discuss the posi lion. A formal meeting will be called in .Melbourne to-day or to-nrorron further to consider the fcituatiou. It is anticipated that one outcome of it will be a considerable alteration in the exchange rates at an early date. Though it was known that the Commonwealth Bank Hoard had advised the Federal Government to remove all the restrictions on the export of gold ns *’rom May 1. the decision of the Government to fall into line with the British Government from yesterday bankers. Some demand was made at the banks yesterday for gold for notes, but it was not large. The “Herald” commenting on the return to the gold standard says: “It is h matter for congratulation that we now enjoy a stabic currency and exchange, which will fluctuate onlv shgh tly more than before the war. The certainty is that the health of the commerce of world trade should improve. It will be possible now to take a long view in commerce and to prepare for future development, and not to be forced to be content with the subsistence of the month. The rectification of the exchange rates should be announced before the week closes.** r'T-RLING QUOTATIONS IN NEW YORK. (Received April 30. 2.30 p.m.) NE W YOR K. April 29. Sterling closed at 4.844: dollars.