INFLUX OF GOLD
CONCERN IN AMERICA. New York, April 20. The New York Times says Wall Street sources have been informed that President Roosevelt and his economic advisers are considering positive measures to check the flow of gold from abroad. Decision on the type of action to be taken has not been reached, but the Administration is convinced that a situation which permits oilier nations virtually to dump gold here and requires the Treasury to borrow money to pay must be corrected. The plan which is foremost in consideration is an import tax or license fee of sufficient size to deter imports. This would be equivalent to a reduction in the Treasury’s buying price, and may account for the rumours of a reduction, which have be.m omcially denied.
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Bibliographic details
Bay of Plenty Times, Volume LXV, Issue 12306, 21 April 1937, Page 2
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128INFLUX OF GOLD Bay of Plenty Times, Volume LXV, Issue 12306, 21 April 1937, Page 2
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