The House of Lords has upheld he validity of the gold clause by reversing the judgment of the Court lof Appesis against a British holder ofa bearer bond of the Societe \i'Ble-tricity de Brussels who sought Court's declaration that he Was led. t0 be paid in Fold. ce Saivslent' tothe value Toling tember, 1928.
The House of Lords decided that the clause in the bond entitled the holder to be paid both his principal and interest in gold. coin' as claim
10s. In. paper pounds, the holder yeh ich means that "inated, receives the equivalent of about per cent. in paper pounds. financial Times" declares that a principle of wide importance thas been laid down by the House of gold coin, it must be construed ax indicating a measure and not a means of payment. It must be inilerpreted as setting up a bullion standard by which the amount of the payment must be gauged.
1 This a welcome: uphold sanctity of a contract."—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.