SHRINKING GOLD OUTPUT.
The world is now almost entirely dependent on tho South African gold | mines for its supply of t'lie vollow motal. Tn most other producing eouiitries supplies nro shrinking steadily- The Commonwealth output for the first half of the year was 239,325 uno ounces, as compared with 250,055 fine ounces in the first half of last year, and 259,028 fine ounces in the first half of 1925. The New Zealand figures for the first half of the current year were 62,3740z5, valued at £255,859, as compared with 60,5070 z, valued at £249,976. There was thus a small {increase. Because of tho shortage of gold, there is no circulation of gold coins in any country except. tho United States, and to prevent the circulation of gold in England tho Bank of England will not part with less than' a 400 oz gold bar. Many European countries, on a gold standard hold very little gold, but hold gold securities.
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Hokitika Guardian, 1 September 1927, Page 4
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159SHRINKING GOLD OUTPUT. Hokitika Guardian, 1 September 1927, Page 4
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