Eastern Exchange, Currency And Finance
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4d.). But the explanation is that the import point (2s. 4-^d.) represents the cost of importing gold into Singapore from Australia, whence the gold which finds its way into the Straits usually emanates; while the export point (2s. 3-J|^d.) is actually the cost of exporting gold from Singapore to London.^ The question of reserves in connection with the Straits paper currency has been in the past almost as fruitful a cause for discussion as have the Indian currency reserves; and all the old argum...ents which have been used concerning the location of India's reserves, proportion of investments, depreciation, etc., have been reiterated in the case of Singapore. There is no need for us to go over the whole of the ground covered by the critics: it is, as it happens, difficult to say whether the present arrangements are final; and as Umits of space preclude our devoting many more pages to the subject of Singapore's scheme, it will perhaps suffice to indicate the main divisions of the reserve.
At the outset, the Currency Commissioners in Singapore had several reserves to maintain with the avowed object of securing the convertibiUty of their notes: there was the Note Guarantee Fund, another fund to provide for the depreciation in investments, etc.; and also a Gold Standard Reserve.
What to read after Eastern Exchange, Currency And Finance?
You can find similar books in the "Read Also" column, or choose other free books by Spalding, William Frederick, 1879- to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
4d.). But the explanation is that the import point (2s. 4-^d.) represents the cost of importing gold into Singapore from Australia, whence the gold which finds its way into the Straits usually emanates; while the export point (2s. 3-J|^d.) is actually the cost of exporting gold from Singapore to London.^ The question of reserves in connection with the Straits paper currency has been in the past almost as fruitful a cause for discussion as have the Indian currency reserves; and all the old argum...ents which have been used concerning the location of India's reserves, proportion of investments, depreciation, etc., have been reiterated in the case of Singapore. There is no need for us to go over the whole of the ground covered by the critics: it is, as it happens, difficult to say whether the present arrangements are final; and as Umits of space preclude our devoting many more pages to the subject of Singapore's scheme, it will perhaps suffice to indicate the main divisions of the reserve.
At the outset, the Currency Commissioners in Singapore had several reserves to maintain with the avowed object of securing the convertibiUty of their notes: there was the Note Guarantee Fund, another fund to provide for the depreciation in investments, etc.; and also a Gold Standard Reserve.
What to read after Eastern Exchange, Currency And Finance?
You can find similar books in the "Read Also" column, or choose other free books by Spalding, William Frederick, 1879- to read onlineMoreLess
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