7 APRIL 1990, Page 24

Golden sayings

ARMING himself with a Treasury brief, Peter Lilley, the Financial Secretary, came along to speak at the London gold market's dinner — pledging his Government to stamp out inflation, and promising that interest rates would stay high for as long as was needed. Gold does not inflate, gold earns no interest, and the minister was compared to Carrie Nation preaching pro- hibition at a saloon-keepers' ball. His audience cheered up to think that it might never happen. To Mr Lilley, though, went the last word. He promised to take the country back on to the gold standard 'when the time is ripe'.