BREAK IN THE DOLLAR
EFFECT OF GOVERNMENT'S POLICY HO MODIFICATION Press Association—By Telegraph—Copyright NEW YORK, November 14. The dollar broke to Civil War levels to-day on a further increase in the Government’s price of gold and the renewed flight of capita! abroad. Sterling and the franc soared. The dollar touched 60.37 in terms of gold, and later went to 60.93. The gold price is 33.5 G per ounce, up 11 cents. Sterling touched 5.33, a new peace-time high level, and closed at 5.26. Exchange operators report almost panic conditions, as dollars are being offered everywhere with few takers, while commodity prices moved upward on the cheapened dollar. Securities closed weak on heavy selling, and Government bonds were off fractionally. The Government is proceeding slowly with foreign gold purchases, which so far aggregate about 6,000,000d01. The President indicates that he has no intention of ( abolishing or modifying his policy.
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Evening Star, Issue 21570, 16 November 1933, Page 11
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148BREAK IN THE DOLLAR Evening Star, Issue 21570, 16 November 1933, Page 11
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