THE WORLD’S GOLD
FAST YEAR’S MOVEMENTS UPSETTING TRADE AND INDUSTRY Press Association—By Tulc-graph—Copyright. LONDON, October 22. (Received October 23, at 9.45 a.m.) The ‘ Evening ' Standard ’ says; “ Tho past year’s gold niovemonts were so remarkable that if they continued for a year or two the world could not carry on the gold standard. The central banks’ gains and losses since October, 1928, are :—Gains : American [federal Reserve and the Bank of Franco, £70,000,009 and £70,000,000 respectively; losses—Bank of England and the Roichbank, £21.200,000 and £15.750,000. “The world’s gold production is £SS- - a year. A small proportion is used industrially and is not available for tlio centra! banks. Allowing for this the United States and France together have double the available gold. The central bankers aim at controlling the gold movements by moans of dear money, and this upsets trade and industry. British trade has been kept down for years with the object of controlling the gold movements in Britain’s favour.”—Australian Press Association.
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Bibliographic details
Evening Star, Issue 20313, 23 October 1929, Page 9
Word Count
161THE WORLD’S GOLD Evening Star, Issue 20313, 23 October 1929, Page 9
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