GOLD STANDARD

Hokitika Guardian, 10 June 1932, Page 6

GOLD STANDARD

REPORT TO LEAGUE

(United Press Association—By E^etrir. Telegraph.— Copyright.) (Received this dav at 1.5 p.m.) GENEVA, June 9.' A return to the gold standard, the desirability of a rise in the 1 price level and aided Central Banks, was advocated in the, final report of the gold delegation of the League’s financial committee. The return to the, | gold standard, however, cannot be expected pending the restoration of a reasonable degree of freedom in the movement of goods and services, the settlement- of reparations and war debts and establishment of certain guiding principles i-n working the gold .standard. The delegation considers the rapid decline in prices beginning in 1929 cannot, be attributed to a deficiency of the gold;, supply, which has been adequate (b/support the credit structure required by the Board of Trade.

•-A minority report signed by tbe ..Chairman, Mr Albert Jaiidsom, Sir Reginald Mant. and Sir Henry Strakoseli /cpjitends that- the dominant cause of the . breakdown was tbe liiabidmistuation of gold reserves beginning in 1929, ami,.emphasises tbe practicability of restoring and maintaining gold prices at. a,•’•suitable level by a concerted attempt to* ‘.restore wholesale prices to the 1 1928 'le.Vml.