THE WORLD'S GOLD

Evening Post, Volume CXIII, Issue 129, 4 June 1927, Page 9

THE WORLD'S GOLD

AMERICA'S HOARD

BRITAIN COMES THIRD

(From "The Post's" Representative.) SAN FRANCISCO, 3rd May. The largest supply of monetary gold ever accumulated by any country in the history of the world—a total of £918,000,000—was -held in the United States at the beginning of last month, according to figures ■ supplied by the Federal Treasury. Slightly more than £600,000,000 of the gold is held in the vaultß of the Federal Eeserve Banks of the country. The remainder is divided between the vaults of the United States Treasury, banks which aro not in the reserve system, and scattered miscellaneous holdings. Imports of the precious metal from all parts of the world are responsible for the increase.

On lat July, 1914, the amount of gold held in the United States was not more than £378.000,000. The immense gold supply in the country is responsible for the abundant credit facilities and low money rates that arc ruling. The only other country -which has gold worth more than £200,000,000 is France, whose supply is being increased through the transfer of the metal which j ■was pledged in London as security for a war-time loan from Great Britain. The third largest amount is held by Great" Britain, with £142,000,000.. Japan is building up gold reserves in the United States, under a programme that calls for a return to the gold standard during the present year.

(Messages marked "British Official Wiretoss." published In this Issue, are sent out by the Imperial Affairs Branch of the Prime