AFTER-WAR FINANCIAL PROBLEMS

Dominion, Volume 12, Issue 32, 1 November 1918, Page 5

AFTER-WAR FINANCIAL PROBLEMS

AN IMPORTANT REPORT. • • (Kec. October 31, 7.10 p.m.) i London, October 30. Lord Cunliffe's Committee in an interim report states that it is imperative that the conditions necessary iot the .maintenance of un effective gold standard be restored without delay after the war. To effect, this, Government borrowing must 'cease us soon as possible after the Mar. The machinery for making tho bank rate effective must be kept in working order, and the :'ssue of fiduciary notes limited by law as soon as practicable. The early resumption of the circulation of gold coin will not be ncces-. sary or desirable; while, the import of. gold should be free of all restrictions, the export should be subject to the condition that such gold bullion has been obtained from the Bank of England for that purpose. All the 'country's gold' ;e----fierves should bo held by one central institution, and a'.l banks should transfer any gold they hold to the Bank of Eng-land.—Aus.-N.Z. Cable Assn,

[The Cun!ift*e Comtuitteo was n commission of thirteen members, with Lord Cunliffe as chairman, appointed in January last to consider problems of currency and foreign exchange during the period of,after-war reconstruction, and report on the'steps required to restore normal conditions.]