THOUGHTS OF THE TIMES.
AX IRONICAL SITUATION. At the present moment, according to the report of the Federal Reserve Bank, “the United States now holds the largest amount of monetary gold ever held by any country.” The total is about £970,000,000, or well over 40 per cent, of the world’s available supply ; and one might think it a justifiable inference that the American people are in tlie mass exceedingly prosperous. Yet last week Air Borah told the Senate that there were over 0,000,000 unemployed in the United States in January, and this means at least 20,4 000,000 people, including families ana dependents. At the same time, the New York Welfare Council has published figures showing that by the end of last year there were over 750,000 full-time workers unemployed in the great city, and they were losing at least £3.750,000 a week in wages. There is a hitter contrast to be drawn between the industrial misery and America’s vast accumulation of the “barren Metal.” gold.
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Hokitika Guardian, 10 April 1931, Page 4
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165THOUGHTS OF THE TIMES. Hokitika Guardian, 10 April 1931, Page 4
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