STATE CURRENCY ASSOCIATION.

Dominion, Volume 3, Issue 821, 21 May 1910, Page 14

STATE CURRENCY ASSOCIATION.

At a meeting of the New Zealand State Currency Association on Wednesday night, the platform adopted, the previous week was enlarged to tho following :— Tho object of this association shall be the formation of societies in all parta of the Dominion, 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; tho qualification of members to be their rights to enrolment as an elector of New Zealand, and the payment of an annual subscription of one shilling.' The principal functions of the Bank of Issue to be: —(1) Tho 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 be issued as "legal tender" within the Dominion of Now Zealand, and decreed lawfully acceptable for the discharge of all financial obligations, excepting tho payment of Customs dues, wnich tax must bo paid in gold realisable from the sale of oxports for the purpose of providing interest and sinking fund on tho national debt. Mr. A. W. Hogg, M.P., wrote accepting tho position of patron of tho association, and stated that in his opinion, after having addressed meotings of electors in ' all centres of NewZealand, the time is ripe for the establishment of a Siato Bank.