GERMANY LOSING GOLD
GOVERNMENT ACTING
BERLIN, 3rd October. A sharp shrinkage of the gold holding, and tho withdrawal of foreign currency to America and Holland, together amounting to £11,750,000 for the week, has reduced the gold coverage from 40 to 31 per cent. This has caused a Government decree that all holdings of foreign currencies 'or claims thereto abovo 4-10 must bo placed at the disposal of the Eeichsbank as a means of stemming the outflow, failing which the discount rate will be raised. Meanwhile industrial economies are being extended, including a cut of 13i per cent, for the Hamburg watersiders. Two Euhr coal mines have discharged a total of 2200 men owing to inability to compote with the now cheaper British coal.
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Evening Post, Volume CXII, Issue 83, 5 October 1931, Page 7
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123GERMANY LOSING GOLD Evening Post, Volume CXII, Issue 83, 5 October 1931, Page 7
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