CANADA’S FINANCE
OFF THE GOLD STANDARD
[United Press Association—By Electric Telegraph.—Copyright.]
(Received this dnv at 12.25. p.m.’ OTTAWA, October 31
The “Montreal Star” to-day stated, that because of the stringency which has .existed in Canada for money, and in order to protect Ca”ada’s position with' regard to its gold holdings, the country would be unofficially off th.e gold standard for some six months.
At the verbal request of the Minister of Finance, (Mr Robb) the banks have refrained from shipping gold, although Canadian currency at a discount, has been making New York shipments profitable. Although this condition has been existent for some time it is not. generally known. Mr Robb has taken a step which investigation now shows he had regarded the situation as being extremely acute, but it is believed that the condition will right itself in the ordinary course of events.
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Hokitika Guardian, 1 November 1929, Page 5
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143CANADA’S FINANCE Hokitika Guardian, 1 November 1929, Page 5
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