AMERICAN GOLD COINS.
SUSPENSION OF EXPORT.
HOARDING IN EUROPE. MEASURES TO DISCOURAGE. B7 Telegraph.—Presa Association—Copyright* (Received February 3, 5.5 pjn.) NEW YORK, Feb. 2. The Federal Reserve Bank has confirmed an order issued by New York banking houses to discourage the hoarding of American gold coins in Europe and will refuse to make farther exports of these coins.
The export of gold in bars will be continued. It is estimated that hoarding of American coins is proceeding at a rate of £1,000,000 a week, which is going to Switzerland, Belgium, Holland, Germany and France.
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Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21098, 4 February 1932, Page 9
Word Count
94AMERICAN GOLD COINS. New Zealand Herald, Volume LXIX, Issue 21098, 4 February 1932, Page 9
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