TONS OF SILVER SHIPPED
EASTERN HOARDS, TAPPED CONSIGNMENT TO AMERICA PURCHASING POWER RAISED POSSIBLE RISE IN VALUES By Telegraph—Press Assn.—Copyright. Rec. 7.5 p.m. London, Aug. 17. Four hundred tons of silver has. left Southampton for New York and many consignments are expected to follow, says the financial editor of the Daily Express. Chinese and other Far Eastern merchants are bringing out their hoards, tempted by the rise in price, which adds millions to the purchasing power of the East and will possibly do more to bring about higher commodity values throughout the world than any other action yet taken.
The cause of the activity is the recent legislation in the United States authorising the Treasury to purchase silver at one dollar 29 cents an ounce.
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Taranaki Daily News, 18 August 1934, Page 7
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125TONS OF SILVER SHIPPED Taranaki Daily News, 18 August 1934, Page 7
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