Salt Lake Tribune | 1919-07-28 | Page 6 | America Owns the Gold

l'-m to arrange pa vrnent.s without bankrupting bank-rupting debtor nations. Under the it'jM eri-bar?ot which to-j to-j rn tly was lilted, making the I "hi tod j States practically the on'.y free gold j market in the world, the federal re- serve board issued 11 J2 licenses for the export of $lo2,3G.976 of gold and LjOO ! Iir-.nycs for the shipment of $-)'.1,70o,-j 00 li in silver. About 7.r5 applications of all clashes were declined. The net movement under the embargo em-bargo was $5,293,532 excess of gold imports im-ports and $281,732,589 excess of silver exports, heavy shipments of the latter metal having been mado to British In- i dia, Hongkong and Franc1. , AMERICA OWNS THE GOLD. The United States of America owns just about all the gold in existeuce. What it hasn't already got in its actual ac-tual possession belongs to it in tho form of debts due from other countries against which America holds trade, balances. bal-ances. According to the federal reserve bulletin for July the balance approximated approxi-mated $9,000,0000,000 in the last three years and bids fair to continue at the same rate this year, affording a prob-