REVALUATION OF GOLD PRICE PROPOSED BY FRANCE?
Received Wednesdav. 10 a.m. PARIS julv 5 Tbe Frmch Finance Ministpr. M. Mnurice Pet.se, he. todav nffprpd t.he •^cretarv for the Tlnif,°d Sta.tes ^reasnrv Mr. John Snvder. a new Frene.h nian for European economic co-onerat,ion. Aifkou"-k fke nafivo nf tbe nian vs riot disclosod. Rieufer's corr°snondent sav? if. is beiievpd fn nrnpose" a revaluation of the price of goM frum 35 to .55 dollars (£8 15s to '13 15sl an ounce. The corrpspovidenf believes that the pronnsed "cp jn t.ko -nricp. nif, gold would immediatelv imnrove^ the baianee of 'krHvu hloc tvpde hv nhnnf. 300.000.00(1 dollars (V75 ooo nnq) \rr>ovit7 p-"d thi1s h° a suhrian+iai e.ontrihution towards SOknno- Pri-tain's dokar criaig. Ti" is also arp-ued that ,the->raisingi of th° o-nld nrice wnihd count.eract tke t.rend towards a trade depression bv increasino- th° mean.s of pa ■'•ment fLrouo-hnuf fhp world. mbo ■pri'iiqh TTnit.cd pi-->ss corvp?nondent. howpvpr m.vs it is under-si-npd thai- Pet^chp made the foilnwino- four proposals to Mr. gt-'rdp-p- % Fivsilv fko vn_pc+eihljLsTvmPnt Of fbo pon vprtahilif-tr into doUars of Euronean currencias but oniv when pacfi pr«mif-rT7 hns roc+nrpd ifg intern°i eeonoi-nie situotinn. ffeoondiv. a revtsion of certain r^tpi? nf pvphaoge as n nopessarv ct.pn towards t.hp stabilisation of gTivn-npcin (jlivrPiiriog Thirdlv. the orearion between Rurn-naqn POuntriPs of -Thp crreatest, ^os.sihio liberfv nf pyehanges a^d uirrpupins- anf? the ereation of the yvea.test, nossible monetarv stahilitv i-s a. first sten towards a single -p nn p+o txt svctpm. Fnurikpv. the susnpnsion of baruprs tn trade cominprfie beveen Marshall Plan countries.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHRONL19490706.2.32.4
Bibliographic details
Chronicle (Levin), 6 July 1949, Page 5
Word Count
255REVALUATION OF GOLD PRICE PROPOSED BY FRANCE? Chronicle (Levin), 6 July 1949, Page 5
Using This Item
NZME is the copyright owner for the Chronicle (Levin). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in