GOLD-CLAUSE CASE

Hawke's Bay Tribune, Volume XXV, Issue 57, 19 February 1935, Page 7

GOLD-CLAUSE CASE

Awaiting Court’s Decision NATION-WIDE EXCITEMENT WASHINGTON, Feb. 17 As the week-end passed without the

Supreme Court announcing that the gold clause decision would not be made on Monday, officials at Washington arj confident that the opinions will be handed down to-morrow, and are tensely awaiting this all-important action. Des'lte the complete reticence of Administration officers from President Roosevelt down as to what they will do if the decision is adverse, it is assumed that immediate action will bo taken to prevent disruption of the national financial structure as built on the varied New Deal monetary legislation. The Treasury's two billion dollar stabilisation fund is already operating to keep tho dollar steady on foreign exchanges. The unusual length of time that the Court has considered the arguments and the unprecedented action in several times publicly postponing the decision has produced nation-wide excitement, which has been compared to that fol lowing the Hcott decision of 1856, which was one of tho things precipitating the Civil War.

The decision, if given to-morrow, undoubtedly will not be until after the close of markets and, if adverse, it is believed certain that President Roosevelt will temporarily doso the New

York stock exchange and perhaps the commodity markets as well.