Changing World
p. 86 · Read in the full issue
Fixed Measure in Changing World
DO you wonder, sometimes, hoi the nations hold the value national currencies, which turn keep world commodity valiu to a fairly steady standard?
The measuring -stick, or fixx standard, still is the ounce of golt and the leading Powers —especiaj United States—still buy any go: that is offered at 35 US dollars pq ounce, or 250/- Sterling. On tM basis, the US dollar is worth T Sterling, or 8/10 Australian.
Gold has not circulated free? for 30 years—Governments au banks hold enormous accumulation in strong-rooms as backing for pan currencies, on the assumption thix if it were released to the world, , would be accepted unhesitatingly place of paper money. ti Miss Talei Tarte, of Taveuni, Fi' 1 was visiting her aunt, Mrs. J.
Bremner, in Sydney, in February. .