The Archive · 1938

Switzerland to Curb Gold Influx

Tax on Foreign Capital May Be Instituted Geneva, Feb. 19. stie measures are contemplated e Swiss financial authorities to assing influx of foreign capital secking refuge in bank Havas understands that a special tax on all forms of foreign capital might be instituted Offücial figures indicate that foreign deposits here amount to Swiss Frs. 5,000.000,000 and capital still pouring into Swiss banks. An oficial communique released the Federal Palace Berne in rosses the inconvenience of this influx for the Central Bank, which is now congested with gold holdings and foreign currency. The communique says that measures contemplated will be announced when a detailed statistical study has been completed.—Havas.

Text read from the printed page and cleaned; old type leaves the occasional error.

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