Soon after Great Britain's departure from the gold standard, the Canadian Government took power to regulate gold exports by licence, and ever since it has, by agreement with the producers, bought practically the entire gold output of the country. The price paid is based upon the world price, expressed in Canadian dollars, subject to the deduction of a mint charge and a handling charge. The Bank of Canada, ever since its establishment in March, 1935, has acted as the agent of the Dominion Government in disposing of the gold. Usually the gold has been shipped to New York and sold to the United States authorities.
In the last three years, and particularly in recent months, some of Canada's new gold has been sold to foreign buyers—who may perhaps be official, like the British authorities, or private—and held by the Bank of Canada under earmark for their account
Text read from the printed page and cleaned; old type leaves the occasional error.