U.S. CONCERN
RE FLUCTUATION OF DOLLAR.
PRESIDENT CALLS CONFERENCE
(United Press Association—By Electric telegraph—Copyright.)
WASHINGTON, November 12.
The Government’s concern as to last week’s wide fluctuations of the dollar, with a corresponding depression effecton Government securities was the subject •of a conference called by President Roosevelt to-day, at which he and his fiscal advisers canvassed the situation. No public statement was issued, but it is understood that the Government’s purchasing programme is to continue. Extreme care is to he taken to limit the buying of foreign gold, as 'a guard against retaliation from other countries.
Senator Thomas praist-u the gold buying policy, but said that it was as yet inadequate. He was of the opinion that the price of gold should be raised to at least forty t dollar,s per ounce, and said that the currency gold coverage should be ' reduced from fiorty per cont. to twenty-five cent. Senator Thomas said that with this “broadened metallic base,” he believed that sufficient currency could be printed to force prices up to tho levels of the year 1926.
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Hokitika Guardian, 14 November 1933, Page 5
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176U.S. CONCERN Hokitika Guardian, 14 November 1933, Page 5
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