WIDE WORLD GOLD HOARDING

Stratford Evening Post, Volume II, Issue 239, 10 May 1933, Page 5

WIDE WORLD GOLD HOARDING

Purchased Like Cheese ACTION OF SPECULATORS Press Association. —Copyright. London, May 9. World-wide gold hoarding is gaining momentum, says the City editor of the Daily Express. Peasants in Holland are purchasing gold over the bank counter like cheese. To check speculation the Dutch banks have put a ban on forward dealings in guilders, except trade transactions. Many speculators believe Holland will be forced off the gold standard, though bank notes are covered by gold to the extent of 90 per cent., and almost every debt entered into in Holland is specifically stated to be the gold basis. On the contrary, trade between Holland and the East Indies colonies is heavily hit by the fall in commodity prices and the Hitler regime has caused the suspension of practically all Dutch exports to Germany.