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India’s Hoarded Wealth

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Pacific Press Publishing Association · Mountain View, California · Apr 28, 1909

FromSigns of the Times, Vol. 36, No. 17.

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India’s Hoarded Wealth

The hoarded wealth of India is estimated at 300,000,000 pound sterling, or $1,500,000,000, largely of gold alone. It has been stated on good authority that none of the smooth gold bars sent from London to India ever came back. They are hoarded. If they could be induced to invest their money in good securities or in irrigation for the country, it would be very helpful, but that is not the habit of the people. It means congestion and want and trouble. All these are emphasized in times of famine.