BRINGING OUT THE GOLD

Hokitika Guardian, 28 October 1930, Page 2

BRINGING OUT THE GOLD

AN AUSTRALIAN SUGGESTION. SYDNEY, October 10. As a gesture of private economy and sacrifice, and of co-operation with tu e Federal Government in its financial plight, citizens are offering it tlieir jewellery, proposing to forgo their loan interest, and so on. This has led Sir Frederick TV a ley, one of Sydney’s leading business men, to observe that, in the aggregate, the Australian people must own the equivalent of a large sum in ounces of “fine” gold iii tile form of ’ jewellery. Much of this, lie says, would probably be available for sale to the Commonwealth if the Government were pre* pared to pay, in notes, the “fine” gold value of this jewellery at a named price, after deducting cost of assaying and treatment. There would, lie admits, be difficulty in dealing with smaller articles, especially those of low carat basis. Nevertheless, he thinKs the idea may be worth consideration by those better qualified to speak as to its practicability. It is not improbable that a fairly considerable sum of privately-owned sovereigns is stored away throughout the Commonwealth at the present time.