U.S.A. SENSATION

Feilding Star, Volume 9, Issue 3851, 6 October 1932, Page 8

U.S.A. SENSATION

NEARLY WENT OFF GOLD NATION AY AS IN GRAVE PERIL j MR HOOVER’S ADMISSION j I <Augt. (.rid JN.Z. Gable) ])c s Aloin.es, lowa. Oct. 4. 1 Lu t’-ie fiivt of three speeches ! scheduled for his re-election can- ] paigjt President Hoover made a lengthy 10,000-word address here to-day, outlining the 'economic difficulties of 'the lay* three years and proposing a. twelve-point programme j or the ref’mhilitntion of agriculture. | He made the startling statement, that last winter, at the height of the Budget difficulties, when gold was pouring into France ,a,nd oth r countries 1 , the ’'l nited States mussed going, off tile gold standard by two weeks.” Discussing the gold withdrawals and public hoarding, 'he said: ‘Never was out nation in .greater peril." He attributed the ability to meet the situation to “Republican cool-lieadedness which rejected every counsel of weakness .and cowardice,’ in spite of suggestions to him of unlimited liquidation, issuance of paper money, suspension of payment of Government isms', and even of a dictatorship, “any one of wliich would have produced a panic in. itself.”