AMERICAN EXPORT OF GOLD
First Big Shipment For 18 Months
ORTHODOX FINANCIERS PLEASED ■I'NITKU IMIESn A.irilXUA'il OK - '.V K LUtVI RIC TELtlillAriJ COi'YHIGIiT.) (Received August 15, 9.40 p.m.) WASHINGTON, August 14. Anti-inflationists found encouragement to-day in the Treasury's approval of the export of the first sizeable gold shipment (1,000,000 dollars) since the financial panic a year ago last spring. The move was quickly interpreted as a sign of orthodox policy timed, whether by coincidence or not, to follow the Treasury's numerous reassurances that its new silver plans contemplate no inflationary extremities. Officials said the immediate and most obvious cause of the demand for gold for export was the prevailing exchange rate of the franc and dollar, which had run well above the point at which it was profitable to buy gold in the United States and sell it to France.
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Press, Volume LXX, Issue 21244, 16 August 1934, Page 11
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140AMERICAN EXPORT OF GOLD Press, Volume LXX, Issue 21244, 16 August 1934, Page 11
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