Show pec tation of imports of gold in immediate Fu future an erroneous one by BENJAMIN al M ANDERSON JR now york banker england alone of the important countries of europe surope is in a where gold would be expected to leave and the possibility of golds boldn ying ing is increased on the face of things by the lower rates of interest entert pt tailing in england as coin compared pared with those of the united states the tish moreover have been reluctant to raise their rates of interest ce e there appears to he be a widespread opinion in england to the effect t even moderate increases in interest rates discourage business while rates encourage business none the less the exchange seems to expect very little gold from nd in the first place the british have been accumulating sold piously in anticipation of the merging of the currency noted and for they wish to have on hand an adequate gold reserve in the second cc c the export of go gold from barland england would automatically tighten ney icy rates in england antl and tile the british financial authorities under iding this quite well vell may be expected to raise their rates in 11 i of the export of gold or to use other protective measures rather 11 to fillow allow the export of gold to force them t to raise their rates even if gold comes to tile the united states state from europe in ti me nic there is no certainty that we ve should make a net gain of gold nada ada ordinarily takes gold old from us in the autumn and canadian ex ge it is usually strong during the autumn months the probabilities are strong against the expectation tion that we shall ln 10 enough gold to relax our money market in the near future |