GOLD RUSH TO LONDON

Evening Star, Issue 21640, 8 February 1934, Page 9

GOLD RUSH TO LONDON

METAL ARRIVES BY AIR HIGHER PRICE OBTAINABLE Press Association —By Telegraph—Copyright. LONDON, February 7. A dozen air liners carrying £5,000,000 worth of gold were guided to Croydon by rockets, the pilots having difficulty iii finding the aerodrome owing to fog. The liners arrived every few minutes, their aggregate cargoes weighing 20 tons. The 1 Telegraph ’ says that the cause of the gold rush to London is that metal is 5s 6d an ounce dearer in London than in Paris. Ten shillings per cent, insurance is being paid, instead of the normal shilling. Loudon is still confident that there is no immediate danger of France leaving gold, but the rioting in Paris has increased the nervousness of speculators. Sir Robert Johnson, Deputy-master of the Royal Mint, says: “ Gold is entirely misused, being used as a commodity instead of for currency purposes. There is not enough gold in the world to pay 10,000,000 people £5 a week for a year. When the world returns to sanity the price of gold will come rattling down.”