SHIPMENTS START
Outflow of Gold From United States
HOLLAND AND FRANCE
Treasury Not Perturbed at Weakness of Dollar
By Telegraph.—Press Assn.—Copyright.
(Received February 5, 7.45 p.m.)
Washington, February 4.
• Shipments of gold from the United. States total approximately 6,000,000 dollars’ worth, consigned to Holland and France. It is announced that 5,000,000 dollars’ worth more are earmarked for shipment.. , A variety of forces' worked to-day to check the weakness of the dollar. The franc failed to go as high as yesterday, chiefly owing to selling against the gold shipments, while sterling went below 5.03 dollars, ostensibly as a re- , suit of the British equalisation fund working through' Paris. Within limits the United States Treasury looks with equanimity upon the of the dollar. It is not very concerned over the outflow of gold provided it continues at a moderate pace because American gold stores, amounting to 10,000,000,000 dollars, re-, main an enormous credit reservoir. In the meantime the depressed dollar will encourage foreign purchases of American goods.
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Bibliographic details
Dominion, Volume 29, Issue 113, 6 February 1936, Page 9
Word Count
165SHIPMENTS START Dominion, Volume 29, Issue 113, 6 February 1936, Page 9
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