GOLD IN BRITAIN.
IMPROVED TRADE BALANCE. PURCHASE BY BANK OF ENGLANL. LONDON, Feb. 21. Since January 24 the Bank of England, largely through the operations of the Exchange Equalisation Fund, lias acquired £19,986,000 in gold, which more than offsets the war debl payment made to America bn December 15. The Economist estimates that the deficit in all payments, excluding gold, in 1932 was only £25,000,000, which was a notable improvement on the j 93 I tolal of £105,000,000. In -other words, while the adverse trade balance in 1932 declined by £122,000,000, there was a further fall 'of between £40,000,000 and £50.000.000 In invisible exports, such as dividends and shipping earnings. Financial circles, commentng on the purchases of gold and securities, which were designed to check an undue rise in dollar exchange, do not welcome this “bad money,” which may he withdrawn at short notice. •
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Waikato Times, Volume 113, Issue 18877, 22 February 1933, Page 7
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144GOLD IN BRITAIN. Waikato Times, Volume 113, Issue 18877, 22 February 1933, Page 7
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