RUSH OF GOLD TO LONDON

Taranaki Daily News, 8 February 1934, Page 5

RUSH OF GOLD TO LONDON

AIR LINERS LAND. IN FOG METAL DEARER THAN IN PARIS “MISUSE AS A COMMODITY” FAITH IN FRENCH STAND By Telegraph—Press Assn.—Copyright. Rec. 10 p.m. London, Feb. 7. A dozen air liners carrying £5,000,000 in gold were guided to Croydon by rockets, the pilots having difficulty in finding the aerodrome owing to fog. The liners arrived every few minutes with aggregate cargoes weighing 20 tons. The Daily Telegraph says the cause (of the gold rush to London is that the metal is 5s 6d an ounce dearer in London than at Paris. Ten shillings per cent insurance is being paid instead of the normal shilling.. London is still confident there is no immediate danger of France’s leaving gold, but the rioting ft Paris has increased the nervousness of speculators. Sir Robert Johnson, Deputy Ma~tss and Comptroller of the Royal Mint, says: “Gold, entirely misused, is being used as a commodity instead of for currency ; purposes. There is not enough gold in the world to pay ten million people £5 a week for a year. When the world returns to sanity the price of gold will come rattling down.”