CURRENCY PROBLEMS.
HUGE PURCHASES OF GOLD. BY UNITED STATES TREASURY. United Press Assn. —Elec. Tel. Copyright. (Received June 12, 11 a.m.) WASHINGTON, June 11. Mr It. Morgenlhau announced that the United States Treasury lor tlie ten months ended May fil acquired 421,497,000 ounces of silver, 205,000,000 ounces more than the total world production during that period. The statement shows that tlie Treasury is still more than 2,000,000,000 dollars short of the silvei ratio of 25-75 to gold provided undol Hie Silver Purchase Act.
DEVALUATION IN SWITZERLAND* BALANCE OF TRADE UPSET. United Press Assn.—Elec. Tel. Copyright, LONDON, June 11. The Geneva correspondent of tha Manchester Guardian says he considers that the devaluation of the currency In Switzerland is inevitable, as the decline In the tourist traffic and the ridiculously high prices for Swiss products have upset the balance of trade.
ADVANCES ON GOLD BULLION.
SUSPENDED BY BANK.
MOVE TO CURB SPECULATION. United Press Assn. —Elec. Tel. Copyright, (Received June 12, 10.15 a.m.) PARIS, June 11. For the purpose of curbing speculation the Bank pf France has suspended advances on sobullion*
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Bibliographic details
Waikato Times, Volume 117, Issue 19600, 12 June 1935, Page 7
Word Count
179CURRENCY PROBLEMS. Waikato Times, Volume 117, Issue 19600, 12 June 1935, Page 7
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