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Show GOLD BACKING OF mm NOTES Bill Proposing Change in Law Proposed by Finance Minister Min-ister at Ottawa. Ottawa, Ont.. Aug. 20 A bill proposing pro-posing a change in the basic gold backing of the note Issue of Canada has been framed by the finance min-ISter. min-ISter. The bill proposes that 25 pr oent gold shall be held against the first 50.000,000 in Dominion notes j BUed At present 2o per cent gold ia held against the first 130,000,000 In notes, and gold must be held for every dollar issued above that amount After the proposed bill passes, gold will be held for every note after $50,000,- 090. The effect of the change is that while at present Canada's credit si.mds for the security of notes to the amount of $22.5on.o00, hereafter the amount secured by credit instead ot gold will be $:J7.ron,000. 00 A Read the Classified Ads. |