VALUE OF THE DOLLAR.
o CURRENCY EXPANSION ADVOCATED. (UNITED JRESS ASSOCIATION—B* BLBCTRIC TELEGRAPH —COPYRIGHT.) WASHINGTON, June I. The Senate Banking Committee today reported, as a substitute for the Goldsbrough Dollar Stabilisation Bill, on a proposal by Senator Carter ii.iss (Democrat) to make ail Government bonds eligible for issuance as currency. The chairman, Senatoi Peter Norbeck( Republican) Baid this would permit the issuance of probably a billion dollars more currency. It was thought that the substitute plan would oring about a quicker extension of currency than the Goldsbrough Bill. Senator tVorbeck said virtually no oposition developed in the committee to the plan, which would be reported immediately to the Senate. The measure sponsored by Mr T. A Goldsbrough (Democrat) which passed the House of Representatives, would have directed the Federal Reserve Board to stabilise the purchasing power of the dollar at the 10*21-29 level by continuing its open market operations.
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Bibliographic details
Press, Volume LXVIII, Issue 20563, 3 June 1932, Page 11
Word Count
149VALUE OF THE DOLLAR. Press, Volume LXVIII, Issue 20563, 3 June 1932, Page 11
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