SHIPMENTS OF GOLD
AUSTRALIAN BANK BILL SENATE REJECTS MEASURE PROTECTION OF NOTE ISSUE [By Telegraph —Press Association—Copyright] Received Alay 13, 9.4 p.m. CANBERRA, May 13. The Seriate, upon a purely tarty vote, by 21 to 14. rejected the Common wealth Bank Bill under which the Government proposed to ship £5.000,000 in gold to meet commitments on .June 30 Sir George Pearce. Leader of the Opposition, said that although it was intended to acquire and ship only that amount of gold, everybody knew tha' a similar amount was due the West minster Bank in a few months’ time This meant that before long the whole of the gold reserve of £15,000,000 would he shipped overseas, making Australian notes purely a fiduciary issue.
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Bibliographic details
Wanganui Chronicle, Volume 74, Issue 112, 14 May 1931, Page 7
Word Count
121SHIPMENTS OF GOLD Wanganui Chronicle, Volume 74, Issue 112, 14 May 1931, Page 7
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