LOST FOREIGN MARKETS
DEBT READJUSTMENT
WASHINGTON, April 19. The official dropping of the gold standard is viewed in informed circles as a prelude to extraordinary measures to regain lost foreign markets, to'effect a debt readjustment, and raise commodity prices which, if accomplished, will inevitably be at least at the partial expense of the go-called depreciated currency countries. Mr. Boosevelt formerly opposed ♦'tinkering1 with, tho currency," but in the opinion of his friends the results of domestic relief legislation, farm relief, and public works have been disappointing. Furthermore, deflation has taken piace during last month, and frozen assets in. the closed banks totalling six to eight billion dollars produced a condition, where, with the competition of foreign countries off gold, it appears necessary to meet the situation with a modified currency. It is believed powerful bargaining material exists for tho conferences with Britain and other countries, but tho immediate anxiety is to halve the ruinous domestic deflation.
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Evening Post, Volume CXV, Issue 93, 21 April 1933, Page 7
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156LOST FOREIGN MARKETS Evening Post, Volume CXV, Issue 93, 21 April 1933, Page 7
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