INTERNATIONAL FINANCE
UNIQUE SITUATION IN VIEW.
Australian-New Zealand Cable Association.
New York, Ootober 29.
Great Britain's insistence onpayina for American purchases in gold is causing uneasiness in finanoial circles, and financiers are beginning to favour granting a long term loan without security, similar to the recent Anglo-French loan. Gold payments for British purchases in America in'- 1916 reached ninety millions sterling. Americans fear that Europe will find an additional monetary unit, leaving the United States with a great stock of gold, for which there will be a depreciated demand. Thus there is the unique situation of Americans preferring British promises to pay rather than gold.
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https://paperspast.natlib.govt.nz/newspapers/DOM19161031.2.27.17
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Dominion, Volume 10, Issue 2916, 31 October 1916, Page 5
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105INTERNATIONAL FINANCE Dominion, Volume 10, Issue 2916, 31 October 1916, Page 5
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