Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1916-03-29
SWEDEN.


SWEDEN.
The Swedish government is having
more gold coming in than 1t knows
what to do with. and as a measure of
protection has passed a law to sus-
pend for year the obligation of the
state bank to buy gold. In 1872, when
the Scandinavian countries entered
on their present currency basis. 1t was
arranged that the Bank of Sweden
should buy gold on the basis of 2.4S0
crowns for one kilogram of gold. Since
the war commenced the Scandinavian
countries have been deiuged with gold,
and, in fear of an inflated currency
therefrom, the Bank of Sweden has
obtained powers to refuse to buy gold.
II is anticipated that Norway and Den.
mark will follow suit, and this re-
markable incident arising from the
war will, If carried into effect, cause
balances owing to these nations to be
left in foreign countries until the
course of exchange is more favorable
The following table shows the growth
of gold holdings IN pounds sterling in
scandinavian countries national banks
since 1914: Norway, 1914. 2,6l6,0Oe,
1915. 2.3O5.090; 1916. 3.096,000; Swe-
den. 1914, 5,7140.000; 1915. 6,0S2.000;
1916, 1867 600; Denmark, 1914, 4,0l5,-
600; 1915. 5.2sS,0 900; 1916. 6.lS4.000.
A Swedish merchant, who is inter
ested in the steel business, had been
in New York consulting with mem
bers of his firm. He returned home on
the Stockholm, the Swedish ship that
was captured by the English on It's
first trip. He was searched and every
letter and paper in his possession was
read. many of them dealing with busi-
ness secrets. He had in his possession
three bars of sample Steel brightly
polished. as samples of the work done
by his firm. Immediately suspicion
was directed against him and he was
taken into custody and Intercepted at
great length before being released.
1t was reported at the end of Feb
ruary that a large German flotilla was
engaged in laying mines TO the south
of Falsterbo, small seaport of Swed-
en-, near its extremity on the Baltic
sea. This new mine field was said to
be intended to prevent traffic in con-
| traband along the Swedish coast to
Finnish ports. 1t was later stated that
I Sweden had made energetic represen-
| tations on this subject to Germany. as
not even Sweden's navy would be able
| to move from the North sea to the
Baltic without grave danger from
| these mines unless accompanied by
German pilots.
A dispatch from Stockholm says 1t
| is stated in Swedish political circles
/ that the Swedish government on two
/ separate occasions applied to the Unit
| ed States to obtain President Wilson S
cooperation for concerted mediation
! toward peace President Wilson, who
at an early stage of the war, had his
offer rejected, adds the dispatch. de-
| clined to join the movement unless
requested by the belligerents. II is
stated that in Stockholm and other
neutral capitals the question is being
discussed of forming a mediation con
| ference without the cooperation of
| the United States.
A few weeks ago a business house
! in Stockholm sent cablegram to New
/ York, asking for a quotat!cc on 1907
900 bicycle valves of a certain oatt II
The managers were astonished waen.
a few days later. they received a 10
/ ter from an English firm which deals
/ in these commodities and which sug.
| gested that it understood the Swedish
firm to be in the market for some
goods of a certain character, repeating
exactly the specifications Of the cable
/ gram.
4 The Swedish government has decid-
/ ed to remove the German mine field
of Falsterbo. which caused the loss Of
/ the steamer Martha The press sup
! ports the government I'm this decision
| and severel newspapers declare that
| the German object in the laying of
| these mines is to prevent all traffic
/ between the Baltic and the North sea.
The cabinet has decided to loan out
| 1925 900 as an aid to small farmers
| during the year.
! About 5000 Swedes who had lived
; in foreign countries returned to Swe-