LEAVING LONDON
SOUTH AMERICAN GOLD. BANKS PREFER AMERICA. (United Press Association.—By Electric Telegraph.—Copyright.) 'MONTREAL, January 8. The Associated Press correspondent at Santiago, states, that it is authoritatively reported that the Central Banks of five South American Counties, namely, Chile, Peru, Bolivia, Ecuador and Columbia, plan immediately to withdraw their gold reserves that are on deposit lil London for the transfer of the reserves to the gold thic being presumably nil the {Halted States, tood that Chile and Bolivia, being the most directly concerned, have already taken the preliminary steps to do so. The five Central Banks, according tothe report, plan to co-operate for the maintenance of the gold standard and to prevent the padding of currencies through the issuance of paper money, and they urge thatb banks which dropped the gold standard to re-adopt it. The Central Banks plan, as a group, | to establish closer relat)on s with the United States Federal Reserve Bank Organisation, but, principally for ad- j vice. Credits, when required, will be negotiated individually.
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Hokitika Guardian, 11 January 1932, Page 5
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168LEAVING LONDON Hokitika Guardian, 11 January 1932, Page 5
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