STATE CURRENCY.

Dominion, Volume 3, Issue 815, 12 May 1910, Page 8

STATE CURRENCY.

At a meeting of the newly-formed Jcevr Zealand State Currency' Association, held last night, the following manifesto was adopted:—The object of the association to be the formation of societies in all parts of New Zealand for the purpose of advocating the establishment, of a State Bank of Issue, each society to consist of a president, secretary, and treasurer, and an unlimited membership; the qualification of members to be, their right to enrolment as an elector of fleiv Zealand, and the payment of an annual subscription of one shilling. The principal functions of the Bank of Issue to be: • (1) The issue of notes in exchange for gold, redeemable in gold coin on demand. (2) Tho issue of notes in exchange for land and mercantile securities, and for services rendered to the State, redeemable in gold at the pleasure of Parliament. These notes to he issued as "legal tender within the Dominion of New Zealand,, and decreed lawfully acceptable- for the discharge of all financial obligations, excepting the payment of Customs dues—which tax must be paid-in.gold, realisable from the sale of oxports, for the purpose of providing interest and sinking fund on. the national, debt. The State Bank to purchase and mint all the gold produced ■in New Zealand."

Messrs. A. AV. Hogg, T. E. Taylor, and H. G. Ell, M.P.'s, were elected patrons of- the association. . The secretary's address is:. Box 52, Wellington.