STABILISATION FUND.

Manawatu Standard, Volume LXI, Issue 90, 15 March 1941, Page 8

STABILISATION FUND.

CRITICS CONFOUNDED. (1.40 p.m.) WASHINGTON, March 14. President Roosevelt said to-day that the Government's 22 million dollars profit from the 2000 million dollar Stabilisation Fund is the outstanding achievement for the fiscal experts, -who have been described as amateurs' by certain columnists.

The fund was created when the dollar fell in 1934 and has accomplished a great deal in stabilising world trade both prior and subsequent to the outbreak of the war. The Secretary to the Treasury (Mr H. M. Morgenthau) revealed the profit in a report to Congress yesterday. Mr Roosevelt said some columnists had written "perfectly terrible bedtime stories" about this fund, intimating that it was being depleted while.: the facts were being kept from the public . ' i Mr Roosevelt hopes to get a ten days' vacation from March 17. It- is understood he will take a fishing trip in the Atlantic waters off Florida of the gulf. ''.'.';