BRITISH POUND
- Post Special Service.
OTHER COUNTRIES MEASURE CURRENCY AGAINST STERLING EFFECT ON GOLD STANDARD Rec. Sept. 25, "5.5 p.m.
Press Association-
— Copyright.
By Telephone—
RUGBY, Friday. "Will sterling replace gold as the new basis for currency?" asks the "Daily Mail's" city editor, pointing out that any country is at liberty to make the pound an alternative for gold. It is reported that Denmark has already decided to go off the gold standard and to measure its currency against the British pound. ' Other Scandinavian countries are likely. to follow this example, said the "Daily Mail," and it is feared that if other countries follow suit, the gold standard is likely to become an anachronism. Mr. Arthur Wade, in the "Evening Standard," says the pound is becoming the centre-block of curreneies which are deserting the gold in order to link up with the pound. This process does not benefit Britain, but the adoption of the pound sterling for the Empire would be beneficial. How.ever, a currency movement putting foreign countries, which are exporting products to England, on the same level means the loss of the advantage of going off the gold standard.
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Bibliographic details
Rotorua Morning Post, Volume 1, Issue 29, 26 September 1931, Page 3
Word Count
191BRITISH POUND Rotorua Morning Post, Volume 1, Issue 29, 26 September 1931, Page 3
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