FREE GOLD MARKET

Hokitika Guardian, 31 August 1933, Page 5

FREE GOLD MARKET

ESTALLIaIiM} J3T BOOIL.Euix£RS FEDERAL MINT PRICE . 'EXCEEDED. ■: ■ t (United Press Association—By Electric A— Telegraph— Copyright.) PHILADELPHIA, August 20, Bootleggers; have achieved what the Federal Government failed to do, they established, a.s free gold market, by paying a premium price for refined gold, which ;is nearly , fifty per cent higher than the, American Government price. This astonishing disclosure came from Mr Ross Barrett, head of the Gold Crucible Service, in a complaint to the national metals committee, which transmitted it to Mr Roosevelt. Mr Barrett stated that one bootleg-ging-syndicate had been handling gold valued at a million dollars a month, purchased at prices higher than the Federal mint pays:

U.'S.A. TREASURY COMPETE. ' LIFTING OF GOLD EMBARGO. . NEW YORK, August 29. A message .from Hyde Park states that. Mr Roosevelt to-day authorised the Secretary of the Treasury to receive on consignment for sale, subject to such rules as he may subscribe, any gold recovered., from natural deposits in the United States. At the same time, the President has tightened the regulations against hoarding to safeguard the new gold order. By lifting the embargo to permit sales of new mined gold, Mr Roosevelt gives the United .States miners an opportunity to secure the higher prices prevailing abroad. News of Mr Roosevelt’s lifting of the embargo, to permit sales of newly mined metal' at higher world market prices, was by a swift rally in gold mining shares on the Stock Exchange.