Business: Gold

In 1930 the League of Nations issued a sensational financial report predicting a rapid decline in world gold production. As all the world knows, precisely the reverse has occurred. For 1935 the League forecast world output of less than 19,000,000 oz. Last week the Wall Street Journal declared that more gold was mined in July than in any previous month in history, estimated that production for the full year would top 29,000,000 oz.—a record.

Since the League's bearish report five years ago two unpredictable factors have completely...

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