WORLD CONFERENCE
AN AMENDING MOTION.
.United Pres® Association —By Ele'tric Telegraph—Copyright.)
(Received this day at 11.45 a.m.) LONDON, June 28
•The -in.onetary sub-commission adopt--ed aiuehflnients to the Pittman resolusipn“jby;W Fraser, president of the 'baiik Wt'ipemational settlements, stating: “Gold is required, not for internal circulation, but lor a reseivo against central bank liabilities, and primarily ■to meet external demands for payment, caused by the disequilibrium on foreign account. Further, in order to improve 'the working future of the good standard, greater elasticity should be given ito central banks legal cover by the reduction of the gold coevr to twenty-five per cent.” Mr Fraser said that lie wished to expedite their return to the gold standard and -remedy the waste and errors of working thereof.
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Hokitika Guardian, 29 June 1933, Page 6
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123WORLD CONFERENCE Hokitika Guardian, 29 June 1933, Page 6
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