THOUGHTS FOR THE TIMES
GOLD STANDARD FOR CHINA. China and Mexico are the only large countries whose currency is still on the silver basis. At one time the dollar was worth as high as Bs, hut today its value is no more than Is 3d. Japan and India, which used to be silver users* are now exporters, and as the produce tion is increasing rather than decreasing the price tends to fall. It is said that 30 per cent of the world’s stock of silver is now to be found in storage in Shanghai. The Nanking Government is said to favour the gradual conversion of the currency to the gold basis, and it is understood that this change is part of the international scheme of Chinese finance now under discussion.
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Hokitika Guardian, 29 January 1931, Page 4
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130THOUGHTS FOR THE TIMES Hokitika Guardian, 29 January 1931, Page 4
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