PRICE OF GOLD SET AT LUCKY NUMBER
Revelations of Former U.S Treasurer NEW YORK, January 2. President Roosevelt, in 1933, during the gold buying move, decided at one stage to raise the piice of gold 21 cents an ounce, saying: "It is a lucky number, because it is three times seven." This is revealed in the release of part of the contents of the diaries of Mr. Henry Morgenthau, jun, former Secretary of the Treasury. Mr. Roosevelt referred to Lord Norman, former Governor of the Bank of England as "old pink whiskers." Mr. Roosevelt decided to raise the price of gold because he thought it necessary to ensure the maintenance of priceS of wheat and other commodities, which he had already raised. Mr. 'Mor.geptHau in his diary says: "If anybody ever knew how we really set the gold price through a combination of lucky numbers, I think they would be frightened." When a Eederal Reserve Bank ex pert suggested that the British and French should be consulted about the price of gold, Mr. Roosevelt protested: "Every time we have taken the English into our conffdence they have .given us a trimming." But the expert had his way.
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Rotorua Morning Post, Issue 5292, 3 January 1947, Page 6
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197PRICE OF GOLD SET AT LUCKY NUMBER Rotorua Morning Post, Issue 5292, 3 January 1947, Page 6
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