GOLD SUPPLY.

Hawke's Bay Herald-Tribune, Volume 81, Issue 19, 15 October 1937, Page 4

GOLD SUPPLY.

" Practical control of the world's gold supply in the hands of the two great English-speaking nations (Great Britain and the United States) would give them a power to control world economy for the good of the world such as has never before existed, a consideration which to men of vision rnjght be reckoned as a benefit greater than can be expressed in monetary terms. Courageously and intelligently handled, such a reserve could insure against any recurrence of another such depression in this generation." This argument is advanCed by the Royal Bank of Canada in its monthly news letter in discussiiig • the movement of gold, particularly new gold, to these countries. "K the best minds amonggfc the bankers and economists in the two countries will get together and decide to co-operate to ration bank reserves with the object of maintaining the maxinium stability and then gladly purchase and entirely remove from the banking system any surplus offerings of gold, to be ufeed oilly at such tiine ih the future as may be necessary to maintaiii stability, the cost will be nothing compared to the possibilities of benefiting the AngloSaxon countries, to say nothing of the world at large. These tWo nations are now in such a dominating position that their supremacy in world business could not be questioned for many years unless their . positioijs were agected by a major war."-