EXPORT OF GOLD
EMBARGO TO BE REMOVED
TO RELIEVE RATE OF EXCHANGE.
The Prime Minister, the Rt. Hon. W. F. Massey, has received information that the associated banks doing business in the Dominion will be prepared to act as agents for miners or mining companies who may desire to have their gold forwarded to a point outside the Dominion for realisation ou their own account, the hanks charging a clear commission as remuneration for their services, and tho owner of the gold defraying all expenses. The rates of commission decided on are as follows:
On lOOoz. or less, 1 per cent., with a minimum of £1 10s on any single parcel. Over TOOoz. and up to 5000 z., 1 per cent., on the first lOOoz ,and 1 per cent on the excess.
Over l jOOoz., J per cent on the whole parcel.
Questioned by a “ N.Z. Times” representative, a leading authority on banking matters said last night, “ I oppose the object is to raise the present embargo on the export of gold, and to enable tho banks to export to any country where it may be possible to place gold, with a view to relieving the prevailing adverse rate of exchange.
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Hokitika Guardian, 19 February 1920, Page 4
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201EXPORT OF GOLD Hokitika Guardian, 19 February 1920, Page 4
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