GOLD STANDARD

Grey River Argus, 14 May 1935, Page 5

GOLD STANDARD

FBESH WEAKENING. FUNDS MOVED TO LONDON. (Aus. and N.Z. Cable Assn.) (Received Mav 13 at 9.5 p.m.) LONDON. May 13. Fears for the future of the Gold “Bloc’’ in Europe are again leading] to a steady flow of foreign funds to London for safekeeping. The latest weekly offering in connection witn Treasury Bills has* been swollen by foreign tenders. The movement is also reflected bv further gobi withdrawals from the Conltinent, the French and Swiss hanks recording substantial losses. ~ n COLORADO SPRINGS. May 11. That the depression in the United States and Europe is not over is the opinion of Sir Josiah Stamp. Though there was a marked improvement over the first years of the economic collapse there still were many rough spo.s ahead, ho said. Conditions were imt rovino Unemployment was decreasing steadily in England, particularly bid none could say when a lino would be reached which will distinguish between more progress nnd definite prosperity. Sir Josiah said he was puzzled over'the recent V.S.A. Government prices for newly-mined silver. He cannot see what advantage would be derived. If the increase were purely political it was perhaps all right, and ; l would help silver producing States. Asked if Britain contemplated a return to the gold standard, he replied: “Only as an international movement. ’ ’