HOARDED GOLD
MUCH OF IT buried.
INDIA’S GREAT STORE.
CALCUTTA, July 4
India’s colossal gold hoardings remain undisturbed and must reach a fabulous total. The latest report of the Controller of Indian Currency states that since 1920, India has imported 50,000,OIK) ounces of gold and has exported 20,000;000 ounces. Most oi the export has been made during the last two years when 16,000,000 ounces were sent out of the cpuntiiy. :
i As most of India’s gold is buried in. the ground under dwellings its •value is • impossible to estiihate." It must be in the-realms oL the fabulous. [Some Of the wealthier Indian princes such as the Nizam of Hyberabad, • who is- reputed to. be one of the' richest men in .the world,, possess enormous: holdings of gold,:,but'their; extent is.not known, as the secret.of.their, wealth is guard-, ,ed ; jealously, , ; , ■>..
. The .poorer . poople, instead of investing their, savings, purchase small bars of gold to hoard. Hence it is impossible to estimate India’s gold: wealth.
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Hokitika Guardian, 17 July 1933, Page 2
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162HOARDED GOLD Hokitika Guardian, 17 July 1933, Page 2
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