UNUSED GOLD

Otago Daily Times, Issue 21599, 21 March 1932, Page 8

UNUSED GOLD

to .the editor.

Sir, —You were good enough to publish in your issue of January 30 last a letter which I wrote' in London in July, 1929, but which, for certain reasons that were explained by me, was not then published. I see by to-day’s cables that it is stated that estimates of the value of gold in England in ornaments and plate range up to £500,000,000. It is just possible that the estimate is under, rather than over, the actual amount, for, after all, who can estimate with any sort of accuracy what gold is stored away? There is a considerable amount of similar “ unused gold ” in New Zealand which, if we had it working, would help to reduce unemployment. It is important that our Government should take up the matter of huying this gold, and not leave it to the private individual, as once it is in the melting pot all chance pf recovering lost or missing articles disappears. We have in New Zealand millions of pounds as good as buried, and the sooner it is dug up and made to work the better, for it will benefit both the individual and the State. The original letter might just as well not have been published tor all the notice that was taken of it, but, feeling that I was on right lines, I considered it my duty to write so and, in order that it might be perfectly clear, I was not courting publicity, I did not attach my name. The fact that Great Britain has started the gold-buying campaign shows that my suggestion was right and that we must do the same thing here. I trust, Sir, that your paper will take this matter up and push it( and if you do you will be amply repaid later by the thanks of the community. I sign as I formerly did. —I am, etc., Otago. Dunedin, March 19.