BIG GOLD LOSSES

New Zealand Herald, Volume LXXII, Issue 22173, 29 July 1935, Page 9

BIG GOLD LOSSES

HOLLAND'S QUANDABY PROBLEM OF NEW CABINET PROFESSOR AALBERSE FAILS By Telegraph—Press Association—Copyright (Received J'liy 25, 5.5 p.m.) LONDON. July 27 Despatches from the" Hague state it is estimated tha.t Holland lost between £20,000,000 and "£30,000,000 worth of gold last week, which is one-fifth of the stock held before the Government crisis. It is expected that the bank rate will be raised to 7 per cent in order to stem the outflow. The Hague correspondent of ths Times reports that in spite of the. loss of a further £3,000.000 of gold the fluctuations of the guilder yesterday were very narrow. The determination to remain on gold is stronger and is not likely to colla.psa for a few weeks. It is hoped the crisis will be solved by then. In the meanwhile the Netherlands Bank is acting vigorously and in accordance with the Queen's wishes. Her Majesty's insistence that Professor Aalberse should form a Ministry in a few days on a wide Parliamentary ? basis excluded the possibility of a simple • Catholic-Socialist Cabinet, and he was not able to accomplish the task. It is expected that Dr. Colijn will be recalled to form a new Ministry.