GOLD SYSTEM
MOVEMENT OF SPECIE. (United Press Associatipn —By Electric Telegraph—Copyright]. (Received this day at 9.25 a.m.) ' LONDON, October 23. The “Evening Standard”, says the past year’s gold movements are so remarkable that if they continued for, a year or two the world could not cany on the gold standard. The Central Bank gains and losses since October, 1028, are:— Gains—American Federal Reserve, 70 million, and Bank of Franco, 73 millions. Losses—Bank of. England 241 millions and Reich Bank 135 milions. The world’s gold production is eighty-four millions per year. A small proportion is used industrially and is unavailable for centre banks. Allowing for this United States and France together have double the available gold. The Central hankers aim at controlling gold movements, which means dear money and this upsets trade or industry. Britisn trade has been kept down for years with the object of controlling fhe gold movement in our favour. It is a system the best human wisdom can .devise.
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Hokitika Guardian, 23 October 1929, Page 5
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162GOLD SYSTEM Hokitika Guardian, 23 October 1929, Page 5
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