Word: guildered
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...with no airy royal detachment the appalling fact that one-fifth of The Netherlands Bank gold reserve had been withdrawn in the frantic scramble for gold produced by fear that Catholic Party Leader Professor Petrus Josephus Mattheus Aalberse might succeed in forming a Cabinet and might then take the guilder off the gold standard...
Such a maneuver may be "neat," but Dutchmen fearfully wondered last week how often the Queen & Colijn may have to repeat a master stroke involving one-fifth of the nation's gold reserve. Amid Depression's typhoon, as the Dutch guilder is threatened in crisis after crisis, The Netherlands Bank frantically hoists its discount rate to 6% during the storms to attract as much gold as possible, then hastily reefs it down to 2½% during the lulls to give Dutch business the benefit of "cheap money." Inevitably such desperate sailing scares the passengers half out of their...
...that they are sane, it was the supreme irony last week that Japan's determined and successful filching is based, at its present stage, on Tokyo's "insane" decision to make the yen worth only 40% of what it used to be worth in gold, while the guilder is still at full, sane value. Should Dutchmen Dance? Cold figures reveal that in 1928 England supplied 29% of all textiles bought by Queen Wilhelmina's dusky Indonesian subjects in Sumatra, Java, Borneo, Celebes, Soemba, Bali, Flores, Timor, Banka, Billiton, New Guinea, Madura, Lombok, the Riouw Lingga and Molukken...
...Even better, many Indonesians are now figuring out for themselves, would be self-rule. They babble ineffectually about "Indonesia for the Indonesians!" But native discontent is grim, real, threatening, and it springs from the impossibility of selling Indonesia's products in sufficient volume on the World market at guilder prices...
Meanwhile the guilder had been a target for bear raiders all week, plunged one day fully 1? off parity, as the Bank of The Netherlands raised its discount rate from 3% to 5% to 6%, and grimly paid out 1/9 of its gold reserves to Dutchmen who are perfectly at liberty to hoard. The week closed with the guilder still 84.8% backed by gold...