U.S. GOLD POLICY
NO CHANGE INTENDED
DROP IN EUROPEAN HOLDINGS
AMERICA FEELS SAFE
(United Press Association—By Electric
Telegraph—Copyright.) Received August 12, 10.45 a.m. NEW YORK, Aug. 11. The Washington correspondent . of the Journal of Commerce says: “President Roosevelt will not give consideration to the Republicans’ gold proposals and will not change his policy of sterilisation. “It is estimated by the Treasury, moreover, that the hoarded gold m Europe, which in September totalled two billion dollars, now does not exceed half a billion. It is felt that this considerably reduces the danger of the United States being swamped with gold imports.”
Six Republican members of tho House Banking and Currency Committee issued a statement on Monday’ demanding that the gold stocks, totalling 12,470,000,000 dollars should he applied to the reduction of the National Debt, particularly the sterilised debt, totalling 1,239’000,000. The statement declared that these stocks serve no useful purpose, but help foreign countries without benefiting tne United States.
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Bibliographic details
Manawatu Standard, Volume LVII, Issue 216, 12 August 1937, Page 9
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158U.S. GOLD POLICY Manawatu Standard, Volume LVII, Issue 216, 12 August 1937, Page 9
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