The Cook County news-herald. [volume] (Grand Marais, Cook County, Minn.) 1909-current, 1916-03-30
SCANDINAVIAN NEV|Sj
SUMMARY OF IMPORTANT HAD.
PENINGS IN FAR OFF !.
NORTHlAND.
ITEMS FROM THE OLD HOME
Resume Of the Most important Events
IN Sweden, Norway and Denmark
OF Interest to the Scandinavian
IN America. <',.s )
SWEDEN.

The Swedish government is having
more gold coming in than it 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 bark to buy gold. In 1872, when
the Scandinavian countries entered
on their present currency basis, it was
arranged that the Bank Of Sweden
should buy gold on the basis of 2,48O
crowns for one kilogram of gold. Since
the war commenced the Scandinavian
countries have been deluged with gold,
and, in fear Of an inflated currency
therefroIn, the Bank of Sweden has
obtained powers to refuse to buy fold:
1t 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, 2,616. 900;
1915, 100000; 1916, 3,096,0o0: Swe.
den, 1914, 5.7140.000; 1915, 6,032, 900;
1916, 1867. 900; Denmark, 1914, 4,O15,-
900; 1915, 5,2Ss,000; 1916, 6,1S4,00o:
A Swedish merchant, who is inter.
ested in tho steel business, had been
In New York consulting with men,
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 bust
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.
It was reported at the end of Feb
ruary that large German flotilla was
engaged in laying mines to the south
Of Falsterbo, a 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
Sweden had made energetic represent
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 it
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 Ivy the belligerents. 1t 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 business house
in Stockholm sent a cablegram to New
York, asking for quotation on 1Q0,-
900 bicycle valves of certain pattern.
The managers were astonished when,
a few days later, they received a let
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 certain character, repeating
exactly the specifications Of the cable
gram.
The Swedish government has decid-
ed to remove the German mine field
off Falsterbo, which caused the loss OF
the steamer Martha. The press sup!
ports the government in this decision
and several 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
$1,32s.000 as All aid to small farmers
during the year. nt,J'.:.
: -
About 5000 Swedes who had lived
In foreign countries returned to Swe-
den in 1915
."y
The Swedish steamer Martha struck
q, mine in Falsterbo sound and sank
within Swedish territorial waters.
-
/, February Sd, the one hundredth an.
>niversary of the birth of Carl Olof
Roseni,ls, the famous preacher, was