VALUE OF GOLD

Evening Post, Volume CXI, Issue 36, 12 February 1931, Page 13

VALUE OF GOLD

FACTOR IN WAR DEBTS

DOUBLE BUEDEN jN tOWj

NEED FOR READJUSTMENT

United Press Association—By Eb.ctrlc Te!t« graph—Copyrigt*. (Received 12tlr February, 1 tub.}] LONDON, 11th 'Ftfbrw* Mr. Francis Hirst, the distinmiUkß ed economist, speaking ait the optional Liberal Club, said: "All nations and Governments involved in the war debt question, iff they only recognised their interests., would pat-' ticipate eagerly in a concerted effort to stabilise the value of "gold. The case for the readjustment of war debts and reparations, contracted when gold was much Jess valuable, is now overwhelmingly strong, and presents no practical difficulties. An ounce of gold has iaow double or more than double rfce purchasing power it had when Britain incurred her war debt to America. The British annual payments of £33,000,000 are now really £66,Ci00,000. A fair payment in interest and principal would, be £16,500,0130."

Mr. Francis Hired;, editor of "Th« Economist," from l! 907 to 1916, is a. Governor of the Lod don School of Economics, has written largely on economics, notably "The Political Economy, of the War," and ""From, Adam Smitfc. to Philip Snowden." ' .