GOLD RESERVES
BRITAIN'S BIG HOLDINGS. (British Official Wireless.) RUGBY, November 26. Tn the Bank of England return o? last Wednesday, the gold coin and bullion in the Issue Department was valued on the basis of 168 s a fine ounce at £219,561. As a result of the policy of massing the gold reserve behind the exchange control, this was a decrease of £326,000,000 compared with a year ago. This drop in the gold held by the Bank of England is capable of misrepresentation, and the Nazi propagandists have not failed to exploit the opportunity. It is suggested that the £220,000 in the Issue Department con-, stitutes the entire British gold reserve. The gold reserve is now held, however, in the Exchange Equalisation Account which, in addition to the large amount of gold already in its possession, received £260,000.000 at the outbreak of the war transferred from the bank. The gold masses in the Exchange Account, moreover, are only part of the financial reserves of Britain, which has foreign investments to an estimated value of more than a thousand million pounds.
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Wairarapa Times-Age, 28 November 1939, Page 5
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180GOLD RESERVES Wairarapa Times-Age, 28 November 1939, Page 5
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