GOLD AND THE BANKERS.
“If tli© central banks of all the countries on a gold basis should deliberately adopt a common policy, they could, within a certain time, lag, raise or lower the price level, almost at will. Money must again flow freely through the' financial arteries of the worldThis matter is so important that I believe it> justifies a conference between the financial leaders of Great Britain the United States and France. The United States and France stand out with a practical corner on the world gold supply. Both, on balance, have large amounts of money owing to them, both a re using their best efforts to avoid receiving payments in goods for amounts owing by loaning abroad! Th e Bank of International Settlements is designed as a meeting ground for the forces of co-operation and co-ordination in monetary aff irs. but I fear that it is too closely associated with the question of war (b,bts to command the support of the United States.”—Mr C. Neill, vicenresident of the Royal Bank of Canada.
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Hokitika Guardian, 4 May 1931, Page 8
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174GOLD AND THE BANKERS. Hokitika Guardian, 4 May 1931, Page 8
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