HOARDED GOLD
INDIA'S GREAT STORE MUCH OF IT BURIED CALCUTTA, July 4. , India's colossal gold hoardings rei main undisturbed and must reach a fabulous total. The latest report of tho -Controller of Indian Currency states that since 1920, India has im- . ported 50,000,000 ounces of gold and has exported 20,000,000 ounces. Most of the export has been made during the last two years when 16,000,000 ounces were sent out of the country. As most of India’s gold is buried in ' the ground under dwellings its value is ' impossible to estimate. It must be in the realms of tho fabulous. Some of the wealthier Indian princes, such as the Nizam of Hyderabad, who is reputed to be one of the richest men iu the world, possess enormous holdings of gold, but their extent is not known, as the secret of their wealth is guarded jealously. The poorer people, instead of investing their savings, purchase small bars of gold to hoard. Hence it is impossible to estimate India’s gold wealth.
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Bibliographic details
Wanganui Chronicle, Volume 76, Issue 167, 18 July 1933, Page 5
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168HOARDED GOLD Wanganui Chronicle, Volume 76, Issue 167, 18 July 1933, Page 5
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