A Curious Substitute: Result of Cash Stringency Caused by the War Reporting from London on June 29, Messrs. Samuel Montagu & Ca. State The Bank of England gold reserve against its note issue is £127,131,380, as compared with £127,064,520 last week. A substantial amount of gold came into the market and was acquired for the U.S.A. and for India, the former taking the larger proportion. In consequence of some relaxation on the 27th instant of the Indian demand, the quotation compared more favourably with the United States gold parity. Gold valued at $125,000 is reported to have been received in New York from London.
The Southern Rhodesian gold output for May, 1922, amounted to 58,920 oz., as compared with 54,318 oz, for April, 1922, and 48,744 oz. for May, 1991, The following figures show the monthly balance of Indian trade in lakhs of rupees (''plus" denotes balance in favour of India and "minus" adverse)
1920.21 1921.22 1922.23 April plus 13,87 minus 6,85 plus 4,17 May 574, 300, 3,48 June minus 8 31d plus 135 936 4, 234 4,00 7 jog minus 2,88
Text read from the printed page and cleaned; old type leaves the occasional error.