Word: bullion
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Dates: during 1940-1949
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Disaster arrived in an 8,000-ton, Canadian-built Liberty ship. Swarms of dockers began unloading her cargo of scrap metal, timber, 708 bales of cotton, $4,293,500 in gold bullion, 300 tons of high explosive (TNT, amatol) in little black canisters. Fire interrupted their work...
...strong economic attack on the Jap strangler? The Chinese dollar has depreciated badly, and is partially dominated by the Japanese military yen in areas near the zones of occupation. Thus the perimeter of the flow of trade is from national China towards occupied China. By importing gold bullion from the U.S.'s oversupply and buying in occupied areas with gold, the flow can be reversed. The consumers goods . . . necessary to stiffen the Chinese internally will flow into the free interior. When sold for China dollars they will help reduce excess purchasing power. This is possible because of Jap puppet...
Meanwhile two precious metals groups continue to prosper. Since Ihe U.S. remains technically on a gold bullion standard, the Treasury must accept gold at $35 per ounce when offered. Biggest offerer remains South Africa, where production has not been restricted for fear of political repercussions. Much less excusably, the Government also maintains its silver purchase scheme, which holds the domestic price at an artificial 71?. However tough it may get about nonessential gold mining in the U.S., the Administration is still not tough enough to cope with the Congressional Silver bloc...
...sunk by a German mine 28 miles off eastern New Zealand in June 1940. All hands were saved. An Australian salvager, Captain J. P. Williams, found the Niagara in February 1941. From a telephone-equipped diving bell divers directed the lowering of explosives to blast through to the small bullion room in the ship's center. Next they lowered a grab into the murky interior of the bullion room. Last Dec. 7 the job was done. Last week the news finally leaked out: more than eight tons of gold had been retrieved...
...Silver consumption last year soared 95% over 1940, to 80,000,000 ounces. Chief new uses: as solder and as a substitute for copper. Silver is one metal for which no shortage is in view: the U.S. Treasury has well over 1,000,000,000 ounces of bullion...