GOLD HOLDINGS.

Auckland Star, Volume LXV, Issue 11, 13 January 1934, Page 9

GOLD HOLDINGS.

ROOSEVELT PLANS. Intention to Acquire Bank Hoardings. VAGUENESS IN INTERVIEW. (United P.A.—Electric Telegraph—Copyright) (Received 1 p.m.) WASHINGTON, January 12. The Attorney-General, Mr. Homer S. Cununings, has submitted to President Roosevelt legal opinion on the status of the Federal Reserve Bank's gold holdings, it became known to-day. Later, Mr. Roosevelt, in a Press interview, without referring to the opinion, declared that he had no doubt of his personal authority to capture the gold for the Treasury by an executive order, but he declined to state whether he contemplates such action or whether he would submit to Congress equivalent legislation.

A clear intimation was given, however, that he had virtually decided to acquire the gold and realise for the Government the profit thereon, as urged by Senator Thomas and others.

There was renewed agitation in Congressional circles and elsewhere to-day for the establishment of a central bank, but the President declined to say if the matter was under official consideration.

He said he contemplated tariff and war debt messages to Congress, but not immediately, as he wished to await developments in the trace situation and to study the debt situation further.