Other formats

    TEI XML file   ePub eBook file  

Connect

    mail icontwitter iconBlogspot iconrss icon

The New Zealand Railways Magazine, Volume 5, Issue 7 (December 1, 1930)

Gold and Unemployment

Gold and Unemployment.

Another pertinent fact about debts is that Germany and France have both, by deflation of their currencies, made wholesale reductions in their internal indebtedness. These European internal liquidations are still so recent and immense that the world has hardly grasped them, and has not yet read their meaning for the future of civilisation. Equally complex are the pros and cons of the tremendous aggregation of gold in the United States. But mark the comment of the London Daily Telegraph that United States banking opinion may have at last concluded that the flood of gold to U.S.A. is prevent- page 18 ing impoverished Europe from buying American goods—hence American unemployment!