OCR Text |
Show Extensive Movement of Precious Metal Divided Between Be-tween Two Countries. There -was an extensive movement of gold to tho far east during Augrust, aggregating ag-gregating ?10,502,000 to Japan, ?27,347,000 to China and upwards of $2,500,000 to India, according to the Boston News Bureau. Bu-reau. Over $100,000,000 in gold has been shipped to the far east since the embargo on exportation of gold was lifted in June. Shipments are practically equally divided between Japan and China. There is a difference of opinion as to whether gold shipments to China are significant. sig-nificant. Some maintain that present shipments are merely to supply China's requirements for the arts, because during the war she had extreme difficulty in obtaining ob-taining gold, and now is simply taking enouali to meet these requirements. Hitherto 'much of her gold has come from other countries, but at present she can obtain it only from us. and her demand may cease at any time. It- Is generally agreed most of the gold Is being worked up and probably a large portion will find its way to India. Some undoubtedly is being hoarded, -ana some held to exchange for silver when that metal declines from its present price, lt is also thought by some a considerable portion of the gold being shipped is to be used as a basis for bank-note issue. Silver, at the same time, has not been entirely, neglected. Even at its present hih lex-el August shipments to China have aggregated ?S, 009,000. This is close to equaling one-third of the entire gold export to China during the twelve months ending June 30, 1919, which amounted to ,124,571,791. |