GOLD FOR GERMANY.
INJURY TO BRITISH TRADE. LONDON, October 24. The “Daily News” understands that the purchaser of £674,000 worth of bar gold withdrawn from the Bank of England on October 23, was Germany, which during the last five weeks has received nearly three millions in bullion from London. This loss of gold seriously affects British credit and means a continuance of dear money and high bank rate. It also enables Germany to foster her trade revival and build up enormous bank deposits. This is a one-sided arrangement. It would be better if Germany got her gold from America, which has a superfluity, instead of Britain, which has hardly a sufficiency. It would be preferable for America to take Britain’s gold, because it would not employ competition against Britain.—(A. and NX).
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https://paperspast.natlib.govt.nz/newspapers/WAG19261026.2.24
Bibliographic details
Wairarapa Age, 26 October 1926, Page 5
Word Count
131GOLD FOR GERMANY. Wairarapa Age, 26 October 1926, Page 5
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