Word: havenga
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Fiction? South Africa's unsmiling old (67) Finance Minister Nicolaas Christiaan Havenga went right ahead anyway. He ridiculed the Fund's objections. Said he: "It is becoming increasingly clear . . . that . . . the fiction that gold is worth only $35 an ounce cannot endure much longer. This is an international problem and will soon be the touchstone of the success or failure of the Fund...
...Havenga had not always flouted the rules. A tough veteran of the Boer War, he became Finance Minister in 1924, and budgeted so conservatively in the next 15 years that he became known as the "Minister of Surpluses." When war came in 1939, he plumped for South African neutrality, split with Prime Minister Smuts, and two years later disappeared into the political wilderness. Last spring he allied his Afrikaaner Party with the race-conscious Nationalist Party (TIME, June 7) and rode back into power when Smuts went...
...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 $224,863,000. Last spring, when the Union had a budgetary deficit of $6,000,000, Finance Minister Nicolaas Christiaan, Havenga in effect snapped his Dutch fingers, confidently cried: "There is no doubt that, despite diminishing revenues, we have ample resources to keep our currency on the gold standard!" (TIME, April...
Promptly the Premier issued a decree which South Africans did not at first understand to mean that they had gone off the gold standard. A day & night of hectic rumors passed before Finance Minister Havenga stated with crisp, Dutch lucidity exactly what the Cabinet had done and what its action means. "The only way to prevent a financial disaster of the first magnitude," said Minister Havenga. "was to release the Reserve Bank from liability to redeem its notes in gold. . . . The Government did so release the Reserve Bank and thereby it cut the link by which South African currency...
...Baldwin. Mr. Baldwin took out a red silk hankerchief. polished the plate carefully, slowly. A boy came in breathless with another blue bag containing another big silver plate. This plate Mr. Baldwin presented to Mr. Bennett. Mr. Baldwin then made a speech praising the weather. Mr. Havenga made a speech pointing out that nobody was under the illusion that he was going home with everything he wanted. Mr. Chatterjee made a speech inviting all the delegates to go to India. Chancellor of the Exchequer Neville Chamberlain, No. 2 British delegate, issued a statement. Mr. Bennett apologized for "being impatient...