The question of the new Palestinian currency is discussed by a “British Financial Expert” in an article published in the Arab paper, “Falastin”.
The writer points out that the only way Palestine could now start a coinage of its own would be for the British government to guarantee to make up the deficiency on the balance of trade and on the profit by paying something from its own revenues to cover the deficiency each year for otherwise the value of the coinage would rapidly go down as the country is not very productive and the excess of exports over imports does not exist.
It is not likely, however, says the writer, that the British people would submit to this and there would be the danger of Palestine issuing more money than necessary in order to cover up the deficiency.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
