Show GOLD RESERVES BANK REACH N NE V HIGH Bullion n W ort 52 Billi Billion n Francs Now w Stored in V Vaults BRITISH H PROTES PR 0 rES t Blame D Depression pres ion on Hoarding ing ingBy By STEWART BROWN DROWN PARis PARIS Dec 26 United Press T The gold gId ree reserves e of f the Bank of France reached the highest figure in history t today tody d y when the statement of the bank showed the total bullion in the vaults was 52 50 ira francs c a an increase of ot ov over r the previous week in spite of two holidays hollday The Th proportion proportion pro pro- portion of gold to paper was wu per peio cent cent also aleo a r record cord cordE E England nd and Germany were the unwilling Santa Clauses since the tho thene neW ne v reserves represent heavy helvy drains from front those countries Since tho the first firt of ot and despite Brit British tIsh t- t ish protests protest been steadily steadIly stead stead- ily withdrawing gold Bold from England and Germany vaults of t tho the st state st to bank are gorged w with bullion I HAS 2 BILLION Ot S 'S wit ncr as w cli oTer 09 In yellow fellow metal which represents nearly 20 per C ce cent t o of or the worlds world's total gold for tor n monetary purposes Between them Franco and the theU U United l etl St States tes' tes hav have almost comer of ot the worlds world's gold cold since th their lr joint Join holding is nearly 60 per cent ent of the tnt B British t l economists have been ac accusing accusing ac- ac cusing Fiance France of ot bad faith in ln continuing con con- continuing its gold policy policy- placing blame for tor the world business de depression de- de at the feet of or Franco France am and i tho the United States for tor allegedly hoarding gold god at a time when the thi I x xu u worlds world's production of ot bullion bulion is Is' not nol t I sufficient to meet the needs of ot the thi I i trade trado Officials of the tho Bank of ot France report the ZIo low flow r 7 of gold toward France Fiance Is Is' Is the tho re result result re- re sult suit of ot financial maxims maxima beyond the tin i control of ot governments OUT O OF CONTROL The ba bank k kot ot of France says says the tin I S 'S problem Is o out t. t of ot Its Us control an and I continue to remain so unless I French Investors immediately Iny invest st l largo large sums abroad The govern govern- Andre Tard leu's leus overthrow over overthrow I throw was preparing measures for fox tho the encouragement of of ot French h Investment In in- In- In vestment nt l In foreign Securities I would start some Borne of Fr Frances France's I gold old flowing in the other direction Tho The legislation was halted baited b by by- bythe the political l-c l crisis and th tho problem I seems no o nearer 1 t 1 I f U. U Us U.s. S. S Experts i Not ot W Worried m d by Hoa Hoard d WASHINGTON Dec Dee 2 CUP CUP- Cov Government i fi financial indi indicated today they not greatly concerned about the French accumulation accumulation of gold has haa reached a point th United Unit ed States own owa approximately por ply ki n 11 g to moro more r Continued nth ed on n. n P page i GOLD t lf F REACH NEW HIGH f f 4 1 Cont Continued ti d from pa pace e 1 I that eo country im tr about half the quan quantity 1 uty ty which tho the United United S States hol holds 1 The total toW worl gold supply is f estimated at abo about t t I The United States on October 31 tile the latest date dato for which h figures are a total of or I are had had a 4 14 4 In lit gold Of ot that amount mount was held by the fed fed federal d- d eral b bank and Included the I United States treasury's gold hold hold- Ings It is toted stored in the 12 district federal reserve banks The remain remainder der was held heId eId by banking banking- houses over Ovel the country The g gold ld stocks t had Increased front from January I 1 I. I 1930 to to October 31 31 and ind treasury officials s sid said fd tb there ro had bad been some additional increase since Oct October bt 31 I Explanation of of- tho the growing French horde of ot gold was r seen en here hereIn In th tho fact tact that Franco France has bas during the current world orId depression stopped Its ita customary foreign lend lend- ing lag France Prance has always had an ex excess c cess s of ot exports over imports and had loaned abroad the excess excess' capital capiti capi capi- tal ti thus acquired until tho the past year when world Inv investment conditions conditions con con- became unsettled has England not suffered particularly particularly from the French accumulation of ot gold It was said because n new W gold shipments from rom and nd Africa have replenished Great Britain's Britain's Brit Brit- ains ain's supply as rapidly as ns it was drawn ot off by France There were said to bo boino no marked gold sold shOrtages shortages short shOrt- ages gM In any commercial country at atthe atthe atthe the pr present ont time Some Somo concern concern that tho the large amount of ot gold old held by France Francc might menace menaco the tho gold sold standard was expressed but it was Vas said Mid that so 80 long loni as tho producing gold countries continue to replenish world stocks this danger is Js slight alight 0 |