BUYING BULLION
GERMANY’S ACTIVITIES. BAD EFFECT IN BRITAIN. (Rec. 9.15 pjn.) London, October 24. The Daily News understands that the purchaser of £647,000 worth of bar gold withdrawn from the Bank of England in October 23 was Germany, which in the last five weeks has received nearly £3,000,000 of bullion from London. This loss of gold, which seriously affects British credit and means a continuance of dear money and a high bank rate, enables Germany to foster her trade revival and build up enormous bank deposits. This is a one-sided arrangement and it would be better if Germany got her gold from America, which has a superfluity, instead of Britain, which has hardly sufficient. It would be preferable if America would take Britain’s gold because she would not employ it in competition against Britain. —Sun Cable.
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Southland Times, Issue 20010, 26 October 1926, Page 7
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136BUYING BULLION Southland Times, Issue 20010, 26 October 1926, Page 7
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