The Industrial Conference, which was - organized - by Sir
Alfred Mond's group of employers and the General Council of the Trades Union Congress, has issued a memorandum on the effect of the gold reserve upon industry. Evidently the Conference is extremely anxious about the policy of credit which may be adopted- by the Bank of England. We shall not know what that policy is until the Government make their expected statement about the proposed fusion of the note issues from the Bank of England and the Treasury. The Industrial Conference does not like the idea of the fusion being backed by gold in such a way as greatly to limit the credit wanted by trade. We arc not sure of the precise meaning of the memorandum, but it might easily be taken to mean that the Industrial Conference desires a departure from the gold standard. We should be glad to, be assured that this is not the meaning.
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