GOLD FOR CHINA
American Treasury Action
SPECULATION ABOUT PURPOSE
IUVITXD PRXS9 ASSOCIATION COFY1IOIT.) (Received February 12, 8.30 p.m.) WASHINGTON, February 11. The Treasury Department to-day revealed that 9,970,000 dollars in gold had been earmarked for China, but the department refused to give details or explain the significance of this unusual transaction.
It is understood, however, that the gold will serve to pay for the quantities of silver bought from China under the Government purchasing programme. It will be recalled that last year a similar action was taken with Mexico, when the dislocation of the silver market brought monetary distress to that nation. As China is reported to have suffered from the American drainage of silver some believe that America is prepared to help in reorganising her monetary system.
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Bibliographic details
Press, Volume LXXII, Issue 21706, 13 February 1936, Page 11
Word Count
128GOLD FOR CHINA Press, Volume LXXII, Issue 21706, 13 February 1936, Page 11
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