GOLD PRODUCTION
LARGE INCREASE PREDICTED.
NEW YORK, February 15
The largest world production of new gold in history is predicted for 1933. A considerable body of expert opinion holds' that nothing would do more to hasten world recovery than a sudden and*rapid increase in gold production. Problems of • bimetallism, matiaged currency, inflation, deflation give Governments furiously to think, but the search; for gold goes on with greater intensity. From all the goldfields of the world—Africa, the two Americas, the Congo, Russia, the Philippines, New Guinea—come reports of steeply increasing production. It has bom estimated authoritativelv' that the gold production for the full year 1932 will be equivalent to £l3B--9 —an increase of more than 7 per cent, from the 1931 level, and an even mere marked increase from the levels of 1930. Hr, David Friday, a. director of the United States Bureau of Economic Research, pictures the possibility of the addition of something like £300,000.009 of new monetary gold to the world’s supply by the end of this year.
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Hokitika Guardian, 18 February 1933, Page 3
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169GOLD PRODUCTION Hokitika Guardian, 18 February 1933, Page 3
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