THE GOLD STANDARD

Wanganui Chronicle, Volume LXXXII, Issue 19301, 2 May 1925, Page 5

THE GOLD STANDARD

COMMENDED BY BANKERS TRADE SHOULD INCREASE LONDON, April 30. The probable effects of the return to the gold standard on the Australasian Exchange is arousing considerable interest in banking circles. •Several leading Australian bankers were interviewed. The general opinion seems to be that the exchange rate on Australasia will got easier. One declared that it should result in lowering tfhe premium cither way on the cost of shipping gold and about seven weeks’ interest. Bankers consider that the easing of exchange will not greatly influence Australian trade, as the volume depends chiefly on the ability of the public to purchase goods and the question of exchange does not arise, but the resumption of the gold standard and reduction of income tax arc likely to improve world trade, increase the public’s spending power and the Australasian share therein.

FIRST SHIPMENT GOES ABROAD Received Mav 1. 1G.30 p.m. LONDON, May 1. Great interest has been aroused in the first, gold movements recorded by the Bank of England since 1916. Tho bullion purchased amounted to £297,000 plus sovereigns 100.000. The. destinations were Switzerland, Holland, India, and Egypt. The first mentioned took £291,000 in bars and coins for the purpose of strengthening the gold reserve of the Swiss National Bank. India took 67,000 sovereigns.