PRICE OF GOLD
EFFECT OF CIVILIZATION.
LONDON, June 15.
“Through a- rise in the price of gold, debtors everywhere are required to pay seventy per cent. more than a few years ago,” declared Air Winston Churchill. “If this monstrous process continues, it will shatter civilization as it has already shattered prosperity. W&r debts have .caused a disease, but cancellation of ' reparations will not cure it.
“We must check progressive revaluation of human effort in terms of gold. Therefore I am glad that the Government layout's a world monetary conference. Those, fearing it, /ought to remember the stern fight Australians and New Zealanders are making to preserve solvency and honour. Governments may enforce sacrifices on all' classes, but ,a fresh rise in the value of gold "'iP wipe out all they have done. The only solution is an international agreement to re-valuate commodities and provide a stable measure for the exchange of service and goods.”
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Hokitika Guardian, 21 June 1932, Page 3
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154PRICE OF GOLD Hokitika Guardian, 21 June 1932, Page 3
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