TOO MUCH GOLD
Press Associatlon-
- "Post" Special Service.
ECONOMIC PARADOX AMERICA NOW HAS NEARLY HALF WORLD'S STOCKS FEARS EFFEQT ON CURRENCY
-Copyright.
By Telephone—
NEW YORK, Saturday. The "New York Times' " financial editor will state in to-morrow's issue: — "With the arrival here of five billion dollars of monetary gold, approximately 45 per cent of the world's gold stock is piled up here, and with daily additions pouring in, saturation is becoming an economic paradox. "No country has ever experienced such a phenomenal 'and bewildering influx of gold — an influx which is continuing despite the relucta'nce of American banking authorities to receive it and the reluctance of the countries sending it. "It has now reached a proportion which is bringing the United States scant popularity in the world. Already, fears of an early shortage of the metal are threatening to force many countries off the gold standard. The position has aroused deep concern among bankers here in regard to its ultimate effeet upon our own currency."
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https://paperspast.natlib.govt.nz/newspapers/RMPOST19310907.2.23
Bibliographic details
Rotorua Morning Post, Volume 1, Issue 13, 7 September 1931, Page 3
Word Count
165TOO MUCH GOLD Rotorua Morning Post, Volume 1, Issue 13, 7 September 1931, Page 3
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