GOLD WITHDRAWAL
PANIC IN WALL STREET. (United Press Association—By Electric Telegraph.—Copyright.) NEW YORK, April 20. . Enormous withdrawals ol gold, the. disclosure of the falsification o,' the Ivreuixor cisstfts, «ni(| taxation against, the Stock Ex< hango were among the chief reasons lor the Wall Street crash. This opinion was expressed by Air Richard Whitney, president of the N»w York Stock Exchange, when giving evidence before the Senate Inquiry Committee. Air Whitney also placed considerable blanio on the wildly optimistic talk three years ago by the country s greatest leaders, ‘"that, poverty was abolished, and a new era had arrived.” This induced the people t<> embark on the craziest speculations, Mr Whitney said.
He denied that concerted short-sell-ing had dismayed Wall Street. Rather it was the withering a way of public confidence. He added that il short selling was absolutely prohibited the market would close, and £1, 0110,00(1,000 in hank loans would be frozen.
“Chans after that,” added Mr M hitnov, drilv.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/HOG19320422.2.50
Bibliographic details
Ngā taipitopito pukapuka
Hokitika Guardian, 22 April 1932, Page 6
Word count
Tapeke kupu
160GOLD WITHDRAWAL Hokitika Guardian, 22 April 1932, Page 6
Using this item
Te whakamahi i tēnei tūemi
The Greymouth Evening Star Co Ltd is the copyright owner for the Hokitika Guardian. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Greymouth Evening Star Co Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in