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European Nations Hoard Gold Amid War Fears

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Pacific Press Publishing Association · Mountain View, California · Jan 20, 1909

FromSigns of the Times, Vol. 36, No. 3.

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European Nations Hoard Gold Amid War Fears

Fearing that a European war might break out, news from the Old World tells us that the great nations have been packing their war-chests with gold. France, it is said, has increased its reserve by $100,000,000 in actual gold metal; Germany has secured nearly $75,000,000 in gold; Italy has added $50,000,000 to her war fund; while Austria-Hungary has purchased $20,000,000 in gold. The Russian State Bank has augmented its hoard by $50,000,000. The Bank of France has made arrangements to buy every ounce of gold that comes from the Cape. Everything indicates that the war spirit and war fear are at highest tension.