MR GOSCHEN ON FINANCE.
• LONDON'S NARROW ESCAPE. (united press association.) London, January 29. Speaking at Leeds, Mr Goschen, Chancellor of the Exchequer, said he would be glad if it was possible to persuade colonial governments to modify the extreme attitude taken up by them with regard to taxation of British goods imported into Australia. Referring to Baring Bros, disaster, he said that it was a fearful financial catastrophe, risking the position of London as a banking centre, and was only averted by the skin of the teeth, and was mainly due to the signal service of Mr Lidderdale, Governor of the Bank of England. The banking reserve was, he thought, inadequate compared with the gigantic liabilities, and he and the banks were devising some scheme by which to strengthen the reserves, so as to prevent international panics. He warned banks and the public of the enormous interest paid m proportion to the reserve held as a deposit. Mr Goschen declared himself opposed to the issue of one pound bank notes, unless means were taken to prevent the expulsion of gold.
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Marlborough Express, Volume XXVII, Issue 26, 31 January 1891, Page 2
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180MR GOSCHEN ON FINANCE. Marlborough Express, Volume XXVII, Issue 26, 31 January 1891, Page 2
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