SILVER CURRENCY
ISSUE OF CERTIFICATES Next Move in United States "NOT INFLATIONARY STEP” (By Telegraph—Press Assn.—Copyright.) (Received 3, 10.30 a.m.) WASHINGTON, Nov. 2. The United States Treasury may soon issue 11,000,000 dollars in silver certificates backed by the silver received in last June’s war debt payments. An amendment to the farm loan law authorising acceptance of debt, payments in this medium will be required. Silver thus received will bo made the backing for the certificate issue. The process of assaying the metal received has just been completed. The next step would be engraving certificates.
Treasury officials to-day denied that this could be considered inflationary, as the certificates will be used in the normal course of business, replacing other forms of currency as they are turned in at the Treasury for redemption. No statement has been issued as to what the denominations of the certificates will be. The gold price to-day was 32 dollars 36 cents, 25 cents above the world market.
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Bibliographic details
Hawke's Bay Tribune, Volume XXIII, Issue 275, 3 November 1933, Page 5
Word Count
161SILVER CURRENCY Hawke's Bay Tribune, Volume XXIII, Issue 275, 3 November 1933, Page 5
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