Evacuation of Swiss gold reserves to US in 1940

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GregSingh
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Evacuation of Swiss gold reserves to US in 1940

#1

Post by GregSingh » 19 Jun 2018, 10:00

Found this hilarious fragment in Felix Somary's memoirs:
The rapid advance of the Wehrmacht into France posed financial dangers for Switzerland: a not inconsiderable portion of the Swiss National Bank's gold reserves was on deposit with the Banque de France under the so-called Tripartite Agreement, and should have been evacuated to North Africa. I received confidential information concerning the whereabouts of certain units of the United States Navy, and informed the National Bank about them, advising that Swiss gold reserves should immediately be loaded on board the ships. A few weeks later, I received a telephone call from the Treasury in Washington.
"One of our warships has arrived in a home port with a gold shipment on board. We do not know the origin of this gold and wonder whether
you can tell us anything about it."
"Certainly," I replied, "the gold belongs to the Swiss National Bank."
"How did it come aboard a United States Navy vessel?"
"I advised the Bank to load the gold on board."
"Where did you apply for permission to do that?"
"Nowhere. If I had waited for official permission the gold would have been lost. The Germans were advancing beyond Bordeaux. Would you have preferred the gold to fall in to their hands?"
"No, but see that it doesn't happen again."
"I cannot promise that it won't," was my reply.
From US Navy and the War in Europe by Robert C Stem:
The US Navy became indirectly involved in the Battle for France when, on 28 May 1940, just as the Dunkirk evacuation was getting started, the French government requested a US warship be sent to Bordeaux with arms for the national police to put down a feared Communist uprising in the wake of French military defeats. This warship would then remove the 200 tons of French and Belgian bullion reserves which had been sent south to keep them out of German hands. That same day, the heavy cruiser Vincennes and two destroyers departed Hampton Roads, VA, for the Azores. The next day, the gold was sent from Bordeaux to Casablanca, French Morocco, to guarantee its safety. Vincennes reached Casablanca on 9 June and starting loading the gold that same day.
It seems they both talk about the same operation.
Does anyone know more details about USS Vincennes (CA-44) actions in June/July 1940?

Thanks,
Greg

Carl Schwamberger
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Re: Evacuation of Swiss gold reserves to US in 1940

#2

Post by Carl Schwamberger » 24 Jun 2018, 15:51

I have read:

In March 1940 the French government sent gold bullion via two different cruisers to Toronto Canada. This seems to have in anticipation of payment for items ordered from US industry. Amount was not given.

When the French warship Bearn was blocked in the Port of Martinique by the British in July 1940, it is belived gold bullion was aboard. One version I read stated a US cruiser passed the Brits to enter the harbor & remains there until the British departed.

The Bank of International Settlements, a clearing house located in Switzerland contained gold bullion belonging to all the nation's Germany occupied. The German government placed considerable pressure on the Swiss to transfer that gold to the German account. The Brits and exiled governments argued with the Swiss for their claims. The US made it's own claims for pmts owed to US industry.

The Norwegian gold reserves we're in part removed to Britain imeadiatly. Other quantities we're apparently smuggled out post conquest.

A large quantity of French bullion ended up in Dakar in 1940.. DeGualles group attempted to seize it but failed.

All this suggests there was a lot of gold bullion moved about in 1940.


Felix C
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Re: Evacuation of Swiss gold reserves to US in 1940

#3

Post by Felix C » 27 Jun 2018, 15:35

Did not the Quincy I believe it was transport the gold from Dakar to the USA? It was one of the cruisers later lost at Salvo.

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Takao
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Re: Evacuation of Swiss gold reserves to US in 1940

#4

Post by Takao » 27 Jun 2018, 21:28

It was the previously mentioned USS Vincennes CA-44, that brought the gold back.

Felix C
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Re: Evacuation of Swiss gold reserves to US in 1940

#5

Post by Felix C » 27 Jun 2018, 23:37

Oops so it is.

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