EXPORT OF GOLD

Evening Post, Volume CXV, Issue 94, 22 April 1933, Page 11

EXPORT OF GOLD

POSITION IN CANADA

(Received April 22, 10.30 a.m.) MONTREAL, April 21. _ Nearly' five million dollars in specie were shipped to the gold market in London today. For some months an embargo on gold exports has been in effect. Gold, which it is linderstood was produced in Canada, was' shipped in the steamers Montclarc and Beaverburn. j While information was meagre, reports were that -the United States, by going off gold, had made It profitable to market bullion in London and Paris. , (Received April 22, 10.45 a.m.) OTTAWA, April 21. The embargo placed against the export of gold from Canada, except under licence, is still in force, said Mr. Rhodes, Minister of Finance; The gold shipped from Montreal is gold held by banks.

AMERICA'S SHYER

LARGE PRODUCTION

With both parties pledged .to it, the-long-delayed international monetary conference seemed Eure to be called in a relatively short time after the American Congress met. In a campaign speech at Butte, Montana,.in the heart of the silver region, Mr. Roosevelt promised that, if he were elected President, he would, summon such a conference "without delay or evasion." The Republican Party, too, placed itself on record in its platform in favour of American participation in a monetary conference, though without offering to call one itself. In addition, the AVorld Economic Conference, which, will soon be held, is considered certain to deal with the problem of silver. Any international action on silver would be of great interest to the United States, as that country is the second largest producer of silyor in. the world, Mexico being first and Cjanada -'third. Silver production for 1931 of. the. IJiree leading nations and of the world are shown in the following table:— Fine ounces. Mexico ......... 86,066,000 United States 31,580,000 Canada -».... 20,562,000 World ~,....... 195,575,000 Silver production in 1931 showed a sharp decline from 1930 and preceding years. World production in 1930 was 243,700,000 ounces, - and that of the United' States 50,400,000 ounces. In 193.0 twenty-one States produced silver. The output of the leading States for the last two years is -bliowe by these figures:—. ' ... 1931 ' . 1930 (Ounces.) (Ounces.) Trtnh ~*......... v«. 8,173,000 14,451,000 Idaho »'"!*!!.*.'... 7,390,000 9,710,000 Arizona !«I«in.-.« 4,304,000 4,910,000 Montana ■ v"*'«l«* 4 120 000 8,597,000 XevaSr .."""".I" 2,413:000 4,179,000 In addition to these States, two territories, Alaska and the Philippine Islands, have valuable silver resources; between them they produced more than 500,000 ounces in 1930. American investors also own largo shares in foreign silver mines. ■" -