Word: dominione
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...Zealand went off the gold standard with Mother Britain. But was that going far enough? Last week secretive, soft-spoken Premier George William Forbes thought not. Really drastic reflation, he decided, is necessary to tide his Dominion through Depression...
While the Premier was drafting a Treasury decree rumors began to fly. New Zealanders rushed to buy English pounds, found that their New Zealand pounds were already quoted at 9% below English. When the Forbes decree was published it officially pushed this discount to 25%, meant that 1¾ Dominion pounds would thereafter be required to buy one English pound...
...Revenue Act of 1932 imposed an import tax (tariff) of 10? per cwt. on coal, except from countries against which the U. S. had a favorable trade balance on that commodity. As the U. S. exports more coal to Canada than Canada sends to the U. S., the Dominion was automatically exempt from this tax provision. Last summer importers of British and German coal asked the U. S. to suspend the tax on their shipments. Reason: Britain and Germany have treaties with the U. S. promising them the same commercial treatment in this country as the most favored nation...
Hating some Englishmen and fearing no man, stubborn, elderly Premier James Barry Munnik Hertzog of the Union of South Africa has battled mightily to keep his dominion on the gold standard. All other dominions and the Mother Country are off. Ever since sterling slipped, English economists have been favoring South Africa with advice and appeals to "link your pound with sterling." Because Premier Hertzog is Dutch-blooded, Englishmen started a limerick in London which has spread to Capetown...
...care very much If the land goes to Hell And the Empire as well, Provided that Hades is Dutch!" Nearly every week in 1932 Premier Hertzog stoutly restated his viewpoint, often" from public platforms: "While I remain Premier we shall remain on gold!" For a single dominion to take this stand was practical in South Africa's case because her digging blackamoors produce more than half the world's current supply of new gold. In 1931, latest year for which statistics are complete, the world mined $440,518,000 in gold of which South Africa, supplied...