Foreign News: Gold at Last

International

Until last week the standing joke about the B. I. S. (Bank for International Settlements) at Basle, Switzerland has been that its vaults contained only one bit of actual money—an antique 25¢ U. S. gold piece. The B. I. S. was created to transfer by bookkeeping methods millions and billions in all sorts of monies between central banks. Lately a very few bankers decided that the B. I. S., as the only bank in the world not responsible to any one government, might be a good place to keep gold. In its monthly...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!