MONEY AT CALL
REMARKABLE SUMMARY ACTIVITY IN GOLD SHARES PREDICTED (United Press Association—By Electric Telegraph—Copyright) LONDON, 16th January. The “Daily Express” city editor supplies a remarkable summary of money at call available in Britain at the end of 1930. The amount is £2,786,000,000, practically cash in pocket, which is a saving that the British public does not use fully. It includes £1,839,000,000 bank deposits, £290,000,000 post office savings, £480,000,000 saving certificates. All can be drawn out on demand or short notice. It is therefore liquid money.
The “Daily Express” goes on to say that the city is asking whether a boom in gold mining shares is coming. When commodity prices remain low for a long period the profits of gold mines must increase as gold is always saleable at a fixed price. It is believed that South Africa, which obtains a big revenue from mines, will be compelled to encourage the industry. Recent , rises in the principal shares suggest that .an early gold boom is probable. Past'experience has shown that activity in gold shares follows an intense industrial depression. A general revival of confidence then ensues.
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Bibliographic details
Nelson Evening Mail, Volume LXIV, 17 January 1931, Page 7
Word Count
186MONEY AT CALL Nelson Evening Mail, Volume LXIV, 17 January 1931, Page 7
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