EMPIRE BANK
REMONETISATION OF SILVER. [United Press Association—By Electria Teiegrapn— Gopyrignuj (Received 12.5 p.m.) OTTAWA, May 12. The project for the remonetisation oi silver u v means ol a super linin'. of Empire was submitted to tin Government bv Mr J. ]■. Darling, Director of tne -Midland Bank no,, in Ottawa. 'IHe Canadian Government was aHke c ( to take a lead in summoning aa Empire Conference. OTTAWA, May 12. The “Citizen” says : —,lt is for the suggested Empire Bank to take over ml the gold and silver stocks of the Empire and it would probably start with 225 million “Rex” in geld and ninety million “Rex” in silver, the Rex being the standard bookkeeping entry approximately to a sovereign, which the Bank, would adopt, 'file Bank would then remonetise silver for use throughout the Empire, maintaining the ratio of twenty to one between it and gold. The Empire Bank,having the monopoly of the metal, would conserve its supply by realising on the price of gold in dollars. Some sixty million Rex would keep pouring into the Bank from British mines and the fact that with a monopoly of exchange, transactions would make tlni ihtnk s'-otife.
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Hokitika Guardian, 13 May 1931, Page 5
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194EMPIRE BANK Hokitika Guardian, 13 May 1931, Page 5
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