BRITAIN’S BIG RESERVES
FINANCIAL RESOURCES CONCENTRATION OF GOLD (Reed. Seot. 8, 11 a.m.) LONDON, Sept. 7. The £280,000,000 which has been transferred to the exchange equalisation account, represents almost *the whole of the Bank of England’s gold reserve. The transfer results in the whole of the nation’s gold holdings being concentrated in one pool under Government control. The city editor of the Daily Telegraph points out that with gold already held by the exchange equalisation account, combined with the metallic reserves, the total must be about double the amount which the Bank of England has handed over now. In addition the Government is mobilising large holdings of foreign securities held by the British public and estimated at about £1,900,000,000.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/GISH19390908.2.39
Bibliographic details
Gisborne Herald, Volume LXVI, Issue 20037, 8 September 1939, Page 4
Word Count
119BRITAIN’S BIG RESERVES Gisborne Herald, Volume LXVI, Issue 20037, 8 September 1939, Page 4
Using This Item
The Gisborne Herald Company is the copyright owner for the Gisborne Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in