ALMOST EXHAUSTED
REICHSBANK'S GOLD
RESERVES AT LOW EBB
LONDON, May 10,
The "Daily Telegraph's" Berlin correspondent says that the Beichsbank's gold reserves have fallen by £-1,600,000 to £14,691,000. If the gold outflow continues at the present rate the reserves will be exhausted within a couple of months. The present transfer agreement expires on June 30.
It is considered that Germany cannot continue to meet her present engagements until then. The gold loss is chiefly due to interest amortisation payments on the Dawes loan. Despite a decreased note circulation, the gold cover has fallen to 5.4 per cent.
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Bibliographic details
Evening Post, Volume CXVII, Issue 110, 11 May 1934, Page 7
Word Count
97ALMOST EXHAUSTED Evening Post, Volume CXVII, Issue 110, 11 May 1934, Page 7
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