GOLD IN TRADE.
LICENSE IN UNITED STATES. PREVENTION OF HOARDING. (United Press Association—Copyright). WASHINGTON, April 5. President Roosevelt formally authorised the Secretary' to the Treasury to issue licenses permitting the use of gold in necessary domestic and foreign trade transactions. For violation of the terms of the order the President decreed a maximum fine of 10,000 dollar, imprisonment for 10 years, or both. The President will continue a firm executive hold on the supply of gold to the States, to prevent foreign raids or domestic hoarding. Otherwise the embargo will be lifted. In a partial report to the Senate on the Administrations Farm Relief Bill, the Senate Agriculture Committee recommended inflation of currency to check the policy of deflation. President Roosevelt to-day ordered the return of all gold over 100 dollars held by individuals to the Federal reserve system before May 1.
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Ashburton Guardian, Volume 53, Issue 151, 7 April 1933, Page 6
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142GOLD IN TRADE. Ashburton Guardian, Volume 53, Issue 151, 7 April 1933, Page 6
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