GOLD HOLDINGS FALL IN U.S.
(Rec. 7 p.m.) WASHINGTON. Nov. 7. United States holdings of monetary gold have declined by more than 1.335,000,000 dollars in the last 12 months, Treasury records showed today.
Officials attributed the drop to improved earnings of other countries from the sale of goods to the United States and -to heavy • spending by American tourists abroad.
Countries making profits on transactions with the United States frequently take payment in gold- to use in trading elsewhere or to increase the gold hacking behind their paper currencies.
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Press, Volume LXXXVI, Issue 26265, 9 November 1950, Page 7
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89GOLD HOLDINGS FALL IN U.S. Press, Volume LXXXVI, Issue 26265, 9 November 1950, Page 7
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