U.S.A. GOLD
Export Sanctioned NEW POLICY UNDER WAY. (Aus. & N.Z. Cable Assn.) (Received August 15 al 8 p.m.) WASHINGTON, August 14. The anti-inflationists .found some encouragement to-day in the U.S. Treasury’s action in approving of the exportation of 'the first sizeable gold shipment, namely, one million dollars, since the financial panic of a year ago last spring.
This move was quickly interpreted as be'ing a sign of an orthodox policy, timed, whether or not- by coincidence, to follow on the Treasury’s numerous re-assurances —that is, ithat the new silver plans contemplate uo inflationary extremeties.
Officials said that immediate and most obvious cauz’e of a demand fo r gold for export was the prevailing exchange rate of the franc and »the dollar, which had run well above the points at which it was profitable to buy gold in the United States and sell it to France.
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Bibliographic details
Grey River Argus, 16 August 1934, Page 3
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145U.S.A. GOLD Grey River Argus, 16 August 1934, Page 3
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