ALLIED RESOURCES.
GOLD AND ASSETS IN U.S.A. What do the Allies' resources amount to. in the form of gold and of investments in the United States? The "New lork Times" recently supplied the answer. On August 31, 1939, three days before the outbreak of war, Allied gold reserves were estimated by the Federal Reserve Board to amount to £1,151,000. 000. Allied .investments, together with bank and other uninvested balances, were placed at £84,"),000.000 more— practically £2,000,000,000 in all. To this must be added current gold production. The Allies produced some £150,000,000 of gold from their mines iu 1038. Assuming a war of two years and an increase in mine output, their newly mined gold might well raise their total resources to around £2,350,000,000. j Since September few figures have been published to show how large Allied resources arc to-day, and such estimates as have been made vary considerably. On the basis of Treasury figures, Allied holdings of United States securities seem to ha.ve fallen by close to £24,000,000 from September to December. Even if the rate of decline has since increased, the total of Allied resource® available for use in the United States is pro'baibly still well above £2,000,000,000.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19400710.2.138
Bibliographic details
Auckland Star, Volume LXXI, Issue 162, 10 July 1940, Page 11
Word Count
199ALLIED RESOURCES. Auckland Star, Volume LXXI, Issue 162, 10 July 1940, Page 11
Using This Item
Stuff Ltd is the copyright owner for the Auckland Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries.
Log in