FLIGHT OF CAPITAL
SWISS BANKS ALARMED
GOLD STANDARD DOOMED
OPINION IN LONDON
United Press Association— By Electric Tele-
Graph—Copyright.
LONDON, April 9,
The "Daily Herald's" financial editor says that the serious flight of capital from Switzerland owing to fears of devaluation are shown in a Swiss National Bank report revealing that gold withdrawals on Saturday totalled nearly £8,000,000, mostly foreign-owned. Foreign balances in Switzerland are estimated at £167,000,000.
Leading exchange operators in London express the opinion that the abandonment of the gold standard by Switzerland and Holland is only a matter of days or, at the most, weeks. A meeting of the Bank of International Settlements at Basle considered the situation of gold bloc countries, but has not decided on any action. The general attitude of the non-gold countries is that the gold bloc is doomed and that nothing should be done to prolong its ?ife. _
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Bibliographic details
Evening Post, Volume CXIX, Issue 85, 10 April 1935, Page 11
Word Count
146FLIGHT OF CAPITAL Evening Post, Volume CXIX, Issue 85, 10 April 1935, Page 11
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