LONDON FINANCE.

Wanganui Herald, Volume XXV, Issue 7327, 30 January 1891, Page 3

LONDON FINANCE.

The Chancellor of the Exchequer's Views.

(Ev Electric Telegraph— Copyright.) (Per United Presß Association.) London, January 29, Speaking at leeds, Mr Goschen, Chancellor of the Exchequer, said he would be glad if it was possible to porsuade Colonial Governments to modify the extreme attitude taken up by thorn with regard to taxation of British goods imported into Australia. Referring to the Baring Bros, disaster he said that a fearful financial catastrophe, risking the deposition of London as a banking centre, was only averted by the skin of their teoth, and was mainly due to the signal service of Mr Lidderdale, the governor of the Bank of ,_. England. The banking reserve was, ho thought, inadequate, compared with the gigantic liabilities, and he and the banks were da< vising some scheme by which to strengthen the reserves, so as to prevent international panics. He warned the banks and the publio of the enormous interest paid in proportion to reserve held as deposit Mr Gosohen declared himself as opposed to the issue of one pound bank notes, unless means wero taken to prevent the expulsion of gold. '