U.S.A. DOLLAR

Greymouth Evening Star, 1 February 1934, Page 5

U.S.A. DOLLAR

NEW VALUE FIXED. [BY CABLE —PBESS ASSN. —COPYBIGHT.] (Recd. February 1, 1 p.m.) WASHINGTON, January 31. President Roosevelt today revalued the gold dollar at 59/06 per cent, of the former weight. The new gold dollar became effective immediately the proclamation .was signed' by the President,- who;,,;anrnounced to-day, that .the- Treasury would purchase any and all gold at a price of thirty-five dollars per fine troy ounce, subject to the usual deductions for mint and handling charges. EXCHANGE VALUES. LONDON, January 31. Gold 133/-; dollar 499£; franc 79 5-16..

FARM CONTROL ACT VOID. TAMPA (Florida), January 30. Federal District Court Judge Akerman to-day declared the Federal Agricultural Adjustment Act to be unconstitutional, and he accordingly issued an injunction to a group of citrus growers, restraining the State .Control Committee from enforcing orders under the Act. Judge Ackerman said: “When considered in the light of the Constitution, the Act is so full of holes that you could drive eight yoke of oxen through. The Act makes the Secretary for Agriculture so great in power that he has an army of men greater than Washington’s; more power than Caesar or Napoleon, and all without constitutional authority. The Act was undoubtedly passed at the request of the Department of Agriculture, and approved by the AttorneyGeneral. Congress used to pass its own Bills, but that is not so any more!” The Government, whose only » defence was a motion to dismiss the application, on the ground that the Court had no jurisdiction, announced that it-would appeal..

DIPLOMATIC SERVICE HARDSHIPS WASHINGTON, January 31. A vivid description of the hardships suffered by diplomatic officers, due to pay cuts and shrinkage in dollar value, was placed before the Congressional Committee by the State Department when requesting increased appropriations. The Department reported one case of suicide, a case of insanity, nervous breakdowns, actual lack of money for food, threadbare clothes kept children out of school, and other deprivations among the Corps. , „ The presses of the Federal Bureau Printing and Engraving were busy to - day clicking out gold notes, which go to the Federal reserve and other holders in .exchange for metal deposited at the Treasury. As the notes are not designed for circulation, they are printed in ten thousand dollar denominations.

MR ROOSEVELT’S BIRTHDAY. WASHINGTON, January 31. The nation honoured President Roosevelt’s birthday to-night in an amazing manifestation of popularity, knowing no political bounds. The President in his nation-wide radio hook-up, personally expressed his thanks for the tributes, especially for six thousand dinners and balls that were arranged throughout the country as benefits for Warm Springs. Gifts of birthday cakes and telegrams have poured in in an increasing stream to White House. One message, which was copied on a single roll of paper 1280 feet long, contained 138,000 words. King George sent his greetings. President Roosevelt s mother, who is 80 years old, was also feted in New York. It is ' expected that Warm Springs will receive two million dollars irom the proceeds of the balls.