General James Barry Munnik Hertzog, bushy-eyebrowed Premier of South Africa, decided last week that "pound" is no longer a fit name for the Union's unit of currency. "Pound" suggests something that has gone off the gold standard, namely Great Britain's pound.
South Africa's pound has not left the gold standard. Moreover, the Union's House of Assembly passed 78 to 53 last week the Emergency Finance Bill brought in by Finance Minister Nicolaas Christiaan Havenga expressly to keep South Africa's currency on a gold basis. Puffing with patriotism. Cape Town papers besought the Government to drop a monetary term so misleading...
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