STOCKS OF GOLD.
PROPOSAL BY REPUBLICANS. REJECTED BY MR ROOSEVELT. LITTLE DANGER OF SWAMPING. United Press Assn.—Elec. Tel. Copyright. (Received August 12, 11.10 a.m.) NEW YORK, Aug. 11. The Washington correspondent of the Journal ol' Commerce says that the President, Mr Roosevelt, will not give consideration to the Republicans’ gold proposals, and will not change the policy of sterilisation. It is estimated by the Treasury, moreover, that the hoarded gold in Europe, which In September totalled two billion dollars, now does not exceed half a billion dollarsIt Is felt that this considerably reduces the danger of the United States being swamped with gold imports. On August 8 six Republican members of tiie Banking and Currency Committee of the House of Representatives issued a statement demanding that the gold stocks, totalling 12,470,000,000 dollars, should be applied to the reduction of the national debt, particularly the sterilised gold of a total value of 1,239.000,000 dollars.
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Waikato Times, Volume 121, Issue 20270, 12 August 1937, Page 5
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153STOCKS OF GOLD. Waikato Times, Volume 121, Issue 20270, 12 August 1937, Page 5
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