NOT URGENT
(Press. Assn. —
ADYERSE COMMENT ON N.Z. PROPOSED CENTRAL BANK
•By Telegraph — Covyi 'ght).
Rec. Oct. 3, 5.0 p.m. London, Oct. 2. A Sun service message says the city people criticise the proposal to establish a New Zealand central bank, apd consider the absence of an international monetary standard makes it inopportune. Th,ey contend that owing. to the smailness of the population and the laelc of an organised money market New Zealand has no urgent need for a central bank. it will be diffieult to control exchango and manage currency when it is not definitely known what the currency backing will be. Talting over the gold holdings of the local banks will involve a controversy, as they will not sell on the basis of the Bank of EngIand's statutory price when they can obtain more in the open market.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/RMPOST19321004.2.29
Bibliographic details
Rotorua Morning Post, Volume 2, Issue 344, 4 October 1932, Page 5
Word Count
140NOT URGENT Rotorua Morning Post, Volume 2, Issue 344, 4 October 1932, Page 5
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