GOLD AND SILVER
FIXATION OF PRICES * ACTION BY AMERICA WASHINGTON, Sept. 9. Under the President's gold regulations the Treasury Department to-day fixed the price of newly-minted gold at 29.62 dollars per ounce, compared with the standard value of 20.67 dollars, and ordered the Federal Reserve Bank to sell at that price to arts and crafts and foreign purchasers. The price will be readjusted daily if fluctuations in the world markets necessitate it. Senator Pittman said that the President was to-night considering a plan whereby the price of silver would be increased automatically to one dollar 19 cents per ounce. The plan provided for the issue by the President of an executive order directing the United States mints to accept silver bullion from domestic producers and return minted coins, less 10 cents per ounce for minting charges. _ Senator Pittman said that he believed the question of the legality of the plan had been submitted to the AttorneyGeneral, but he did not know if an opinion had yet been given to the President.
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Poverty Bay Herald, Volume LX, Issue 18190, 11 September 1933, Page 5
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171GOLD AND SILVER Poverty Bay Herald, Volume LX, Issue 18190, 11 September 1933, Page 5
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