THE DRAIN OF GOLD.
LATEST NEWS
NO NEED FOR ALARM. “AS SAFE AS BANK OF ENGLAND." OLD ADAGE HOLDS GOOD. (Omcral Wireless.) (Reoeived July 30, 11.45 a.m.) RUGBY, July 29. Regarding the drain of gold, Mr MacDonald said the contention “as safe as the ‘Bank of England" was as true to-day as it was twenty or thirty years ago. The Bank of England always had been generous in tidying over difficulties in Germany, Austria and Hungary. When there was a run on 'German short term credits a certain reaction followed in respect to foreign deposits lying in her vaults. For this reason there was some little excitement and a demand for gold from London, “but we can easily deal with that."
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Bibliographic details
Waikato Times, Volume 110, Issue 18394, 30 July 1931, Page 7
Word Count
121THE DRAIN OF GOLD. Waikato Times, Volume 110, Issue 18394, 30 July 1931, Page 7
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