GOLD PRODUCTION.

Waikato Times, Volume 119, Issue 19884, 13 May 1936, Page 7

GOLD PRODUCTION.

THE WORLD'S RETUHN.

BIG INCREASE Foil YEAR. .\IUCII OF IT IIOARDED. United Press Assn—FAN, TPL Copyright. BASLI'Z, .\lay H. The world's gold production last year allaincd not only :1 new high {lgurc. but the largest year's increase ever recorded, according to a report submitted at the annual meeting or the Bank (if International Settlements. The total has risen to 3.287,000.000 Swiss francs. compared with 2,929.000,000 in 1935. A large. part ul the new supply has ‘hPCll again ab-

scribed by private hoarding. The various exchange cquallsation funds of the central banks in France, Holland, Italy and Switzerland sustained substantial losses. The biggest recipient of gold was the United States Treasury, whit-h absorbed an amount. equal to nearly twice the world‘s gold production. A considerable rise in commodity prices very likely will he experienced in the British and Amort‘an markrts. which will loud to farilitate a general return in the cqulihritun in the near future. Not An Unmlxed Blessing. '11“. I'l-pnl‘l glws warning- lhut a mariuul rise in prixvs lg nut an un—mixnu lrlv‘sslllJ-l. ‘itlil brings its own tiaulzrrn illltl tlitilvultivs. ll uol-‘s that an arm t'mt-riuj.’ nut-re than 8.") pt‘r 'rt'ut. ul' lllv \\t>rili~ lrutic unjuyrtl I‘or ihr l‘uil Muir thu- lwuvlil ul‘ [u'urliruliy hlulltlv I-xt-lxana’v r.tlv~. \\liiln- rulalivu Im-ul‘ ul' Hunt) Ellltl primw iu I“|'.l|ll‘|,‘, llritaiu and Hi“ l'uih-il Flirt-m lumen...lmllrr ittlJllnit‘tl tu rush HHlL‘l‘ during 1031 'l‘lm report Calls allruliuu to the rim: in mpmu'liluru in practically awry couulry. it saw this i“ largely .luv io increased armaments, \\'|ll~:l] lld\e resulted in additional taxation. ‘