50 YEARS AGO JAPAN SHOWS HOW GOLD IS NO. 1 WAR METAL

Can nations conduct war without gold? Is gold an essential metal when conflicts rage?

There are those who have observed Japan and Italy waging war with little gold. They have seen Germany arm and threaten and push weak neighbors about. They have watched a conflict in Spain well into its second year and have wondered how the trick is done.

People have seen large quantities of gold shipped from Japan to the U.S. They have also heard of big shipments of the metal arriving in Canada for “safe keeping.” All these movements have created a mystery.

Japan, amongst the most belligerent of nations, is most directly concerned in this study. The country is finding that the conquest of China — “in self defense” — is creating a dangerous condition at home and abroad. A political as well as an economic collapse may ensue; the country may lose its place as a world power.