GOLD & CREDIT
DECISION BY AMERICAN TREASURY POLICY OF STERILISATION ABANDONED. WAY OPENED TO SWEEPING EXPANSION. WASHINGTON, April 19. The Secretary of the Treasury, Mr Henry Morgenthau, announced the abandonment of the gold sterilisation policy, opening the way to sweeping increases in the available credit. In future the gold acquired by the Government will be poured into credit arteries as needed. The only qualification is that some of the incoming gold may be temporarily placed in the Treasury’s working balance, in which at present there is 209,000,000 dollars worth of free gold.
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Wairarapa Times-Age, 20 April 1938, Page 7
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91GOLD & CREDIT Wairarapa Times-Age, 20 April 1938, Page 7
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