NEW GOLD DOLLAR

Ashburton Guardian, Volume 54, Issue 95, 1 February 1934, Page 5

NEW GOLD DOLLAR

LEGISLATION IS EFFECTIVE. PURCHASES BY THE TREASURY, ALL AT 35 DOLLARS AN OUNCE. (United Press Association—Copyright.) (Received This Day, 12.40 p.m.) . WASHINGTON, January 31. The new gold dollar became effective immediately the proclamation was signed by President Roosevelt, who announced to-day that the Treasury would purchase any and all gold at the price of 35 dollars per fine troy ounce, subject to the usual deductions of the Mint and handling charges. . .

ROOSEVELT PROGRAMME.

JUDGE ISSUES INJUNCTION. ; ' TAMPA (Florida), Jan. 30. Federal district Judge Akerman today declared the Federal Agricultural Adjustment Act unconstitutional, and accordingly .issued an injunction to a group of citrus growers restraining the State Control Committee from enforcing orders under the Act. Judge Akerman said: "When considered in the light of the Constitution the Act is so full of holes you could drive eight yoke of oxen through it." He added: "The Act makes the Secretary of Agriculture so great in power that he has an army of men greater than Washington's, more power than Caesar or Napoleon, and all without constitutional authority. The Act was undoubtedly passed at the request of the Department of Agriculture and was approved by the Attorney-General. Congress used to pass its own bills, but that is not so any more."

The Government, whose only defence was a motion to dismiss the application on the ground that the Court had no jurisdiction, announced that it would appeal from the judgment. The Act gave the Secretary of Agriculture power to, order the restriction of production, control prices and give financial assistance to primary producers.