CONCEALED WEALTH
GOLD HOARDS IN FRANCE COLLATERAL FOR AMERICAN LOANS SUGGESTED WASHINGTON, Rec. 11.30 p.m. Nov. 13. France has from 2,000,000,000 to 3,400,000,000 dollars in hidden gold among its citizens while pleading for more American cash to keep the nation from starving, said Representative Christian Herter (Republican, Massachusetts) in the House Foreign Affairs Committee to-day. He -said that M. Jean Monet, the French economist, who was in charge of the French Government’s reconstruction programme, estimated the concealed gold at 2,000,000,000 dollars, while the International Bank for Settlements estimated the hoard of French gold at 3,400,000,000 dollars. Representative Herter said he believed that it- would be perfectly proper for foreign countries to put up some of their assets in the United States as a collateral for American loans.
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Otago Daily Times, Issue 26619, 15 November 1947, Page 7
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127CONCEALED WEALTH Otago Daily Times, Issue 26619, 15 November 1947, Page 7
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