BRITISH PARLIAMENT.

Hokitika Guardian, 1 May 1925, Page 2

BRITISH PARLIAMENT.

IUSTHAI.I.IN AMI N.Z. CABI.K ASSOCIATION Till-: NKW I.K(f iSL.VTIf )N. LONDON. April BR. The (fold Standard Bill repeal' the subsection "t the previous A• t under which Hi" holder of a currency note i, entitled to obtain gold ] ayment at face value. It also repeals the regulations under w hit It any person i- entitled to have gold bullion minted. I it makes an exception ill the en.-e of the 11>ttk of Tngiaiid. Nevertheless, it enfone- on the Bank of Kngland the responsibility of redeeming legal tender ett r. quest: in the form ol bars oi gold bullion ajg;loximatoil up to Imir hundred (mnees. Finally, the Hill empower- the livnsiiry. on any eeuditn a- it thinks lit. lo raise any money necessary to exchange 11) eratoils, Provided that such loan- or credits are redeemable within two years. PRICK OF FOLD. LONDON. April “ft. Tile price of gold i- now 8-ls 11 Ml ]er .'.mime. This is equivalent lo T.s Tlt.Jd which will 1... tile Rank oi Fngland's statutory .selling price under the Fold Standard Bill. London. April ad. Tii the House of ('.minimi.,, during the commit!ec stage on the Budget. Air Philip Snowden (funner Chnneel--1;i of the Fxehequerl declared that the imrea-ed exiettdilure provided b-r was lail jit.-; itied. The expenditure eo the Nttvv should have been redu-ed. in--icad ..t being increased '‘lbis Budget. a| art from the women's pensions was the worst rah man s Budget that fail ever belli intredu. ed. lie pensions scheme would impose a burden of £' IJfOO.bflO amitmlly on the industries ol too country, and this at a time uf unparalleled industrial depression. Sir Alfred Aloud said that he doubled t hi"’ wisdom ol returning to gold payments. lie deplored the lutidens that were to be laid on industry by the growing systems of social insurance, while, he said, silk duty would injure ~n.. of their most important textile industries. Sir Robert Horne championed the proposals, lie declared that a | referential sy-ti'm had loon ol immense honelit to British trade. He added; -\Ye soo. from the ovonts in Smilh Africa, the result of our failure i<> give iv iprot al term- to a oountry like that." IMPORTANT 111 I LK HlhA I). LONDON, April -JO. The House of Comm.ms read for the lirst time the Fold Ft.nodal.l Bill, and the Widows. (tritiums and Old A;; Contributory Pensions Bill-.