DISAPPEARING GOLD

Thames Star, Volume LII, Issue 13938, 17 July 1919, Page 2

DISAPPEARING GOLD

Probably the world ha® had its , last sight of goid except in jewellery , shops. HVe years 'ago 'gold piieoeißi " were in common, : cdrcmlaitiiomi over, i nearly oil of Eurojpe. They ha.ye ' practically all been impounded in. I the: bigioeinltral baoaikisiniow and it is noitl likely tihey. will over again be ■relmsed for cartauilatiion.. Paper substiiitiuties will be used, as in the ceta-. • tlral emd eastern iparts of tihe United Stalties for many years. Eveni our gold cerfcificates haive mainly disappeared from clircailaitiion. The Federal Reisiervie Bamks .hiaive them' —issuiiug. their oiwn notes for ciiTtoulaitiiiig puii*poe€H in iplWe otf; them. Other- banks hioid ytery, little acifcual gold. Early in the war Euirqpe 1 shipped . tans oif gold to America- in siatitlemeinib oif t^ade balaiiceis. Probably that wall "never hapipen aigadb. They a.re workiing iriiaw to eigtlablisih am initerniatioraal deposattoiry otf gold—ipiroiba,bly in Londoni- Hertealfeierl, When) England or France wished to ship us twenty mttUionis of "gold" she -will simply puib a bundle of tihe depository's ciemtrficaiteis in am eiwelope and mail them over, juslti as our baniks usedl totransfer "gold" to one amotiher by harading otver Treasmiry or cileia.Timglhouse oertificiaitteß for the metal. Neiarly all <the g<old' iw tihe woiT'ld is now looked up in a: few b%. deposi- , toriesi, . itihe gVeate§ifc hoard being in the tifetarory -vtaiults. a* Wasihiingition!. Recediptts w" mttlifioaittesi for 1 this gold will chianlgla hands from time to time j beit.weenj banks and betiweenj naitlionfe. Bu* excfept a few waiteihimeni and auditora nloibody will ever see gold as mioniey. The mieital atbelf wSH! liel unmoived frona year to year and d'eoade. All Itihe trade of the world will b© baised uptoni 'somietihing 1 as to whiose exisitenicie only ai handful of mem will hiaive any proof.' A conivenition accepted and agreed uipcn is tihe soli deist thing! in t!he world—the mostl real frhEmig in itihe woi"ld.—Satnirday EMening! Post.