The new GBP500,000 Stock Exchange Building in Johannesburg, South Africa, was opened by the Governor-General, Mr C.
The new GBP500,000 Stock Exchange Building in Johannesburg, South Africa, was opened by the Governor-General, Mr C.R. Swart, on Feb. 6th Among those present for the ceremony were representatives of overseas stock exchanges, including the president of the New York Stock Exchange, Mr Funston; South Africa's Finance Minister, Mr Donges; the Mayor of Johannesburg, Mr Marais, the Stock Exchange Chairman, Mr Ferguson; and Senior Deputy Chairman of the London Stock Exchange, Mr Knox.
Speaking in the main room of the new Stock exchange, the Trading Hall, with its seven stained glass windows depicting various aspects for commerce and industry, Governor-General Swart said he had "unbounded faith" in South Africa and its people, in spite of the country's problems.
He said that on Feb 14th South Africa would take the plunge of changing from a currency of pounds, shillings and pence to a decimal system. The new money unit the rand, would commemorate WitWatersrand, where the all-important discovery of gold was made 75 years ago.
When South Africa became a Republic in the next few months, he said, the Government and financial institutions would "maintain, strengthen and improve" the country's "safe financial system and sound economy".