AMERICAN SINCERITY
INDEBTEDNESS REPUDIATED I ' 1 A SENATOR’S CRITICISM WASHINGTON, February 21. (Received Feb. 22, at 11.30 p.m.) Mr H. C. Hoover’s,proposal to resume the gold standard started an angry debate in the Senate, Senator Connolly declaring that the United States was in effect still on the gold standard, when Senator Carter Glass shouted: “We are on a fiat currency basis, and under the Supreme Court decision we are on a fiat bond basis.” Senator Glass added: “I wonder what the foreign debtors will think of the measure of our sincerity in reproaching them for repudiating their indebtedness to us when the Congress has repudiated the most sacred indebtedness any nation on earth ever incurred, that was when it fought the World War.”
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Otago Daily Times, Issue 22504, 23 February 1935, Page 13
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123AMERICAN SINCERITY Otago Daily Times, Issue 22504, 23 February 1935, Page 13
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