THE BRITISH BUDGET

Hokitika Guardian, 30 April 1925, Page 3

THE BRITISH BUDGET

AD*TItALIAN AND N.c. CABI.K AH3OOIATION. WELL RECEIVED. (Received this clay at 10.25 a.in./ LONDON, April 29. The Budget (itatoinent wa.s very well rceeived on the Stock Exchange and it had a stimulating effect on certain specialities, .especially artificial silk shares. .Motor shares continue in the ascendant while leading high class investment securities are firm. BOLD STANDARD. (Received this dav at 19.25 a.m.) SVDXF.V, April 90. Following the announcement of the return to the gold standard, an informal meeting of representatives of the Associated Banks was held to discuss the position. A formal meeting is called in Melhourno to-day or to-mor-row to further consider the situation. It is anticipated one outcome will he a. considerable altercation of exchange rates at an early date. Though it was known the Commonwealth Bank Board had advised the Federal Government to remove all restrictions on the export of gold as from first May, tin decision of Government to fall into lint with the British Government from yes terdnv came as-somewhat- of a surprise to hankers. Some demand was made at the hanks yesterday for gold for notes, hut it was not large. The “Herald” comments that the return to gold is a matter for congratulation. Wo will now enjoy n stable currency and exchange, which will fluctuate only slightly more than before the war. A certainty is the health of commerce of the world. Trade should improve and it should lie possible now to take a long view in commence and prepare for future development, and not he forced to lie content with the- ftuhsistence of the month. The reetifietion of exchange ratesshould he announced before the week closes.