Evening Republican, Volume 22, Number 159, Rensselaer, Jasper County, 8 July 1919 — U. S. PRACTICALLY OWNER OF WORLD’S GOLD STOCK. [ARTICLE]

U. S. PRACTICALLY OWNER OF WORLD’S GOLD STOCK.

Already possessed of the greatest single stock of gold in history, the United States could lay claim today to most of the remaining free gold of the world in payment of its favorable merchandise balance, the Federal Reserve Bulletin will say in its July issue. The balance approximated $9,000,000,000 in the last three ye'ars and bids fair to continue at the same rate this year, affording a problem to arrange payments without bankrupting debtor nations and still further-enhancing the cost of living here through the importation of more metal. Under the gold embargo, which recently was lifted, making the United States practically the only free gold market in the world, the federal reserve board issued 1,142 licenses for the export of $152,326,976 of gold and 1,500 licenses for the shipment of $502,756,003 in silver. About 755 application of all classes were declined. ThSwnet movement under the embargo was $5,293,632 excess of gold imports and $281,732,589 excess of silver exports, heavy shipments of the latter metal having been made to British... I India, Hong #ong and France.