FLOW OF GOLD INTO UNITED STATES
POSITIVE CHECK PLANNED
(Received April 20, 11.25 p.m.)
NEW YORK, April 20. The New York Times says that Wall Street sources are informed that the President (Mr Franklin Roosevelt) and his economic advisers are considering positive measures to check the flow of gold from abroad. No decision about the type of action has been reached, but the Administration is convinced that the situation permits other nations virtually to dump gold in the United States and requires the Treasury to borrow money to pay. This must be corrected, says The New York Times. The plan which is receiving foremost consideration is an import tax or licence fee of sufficient size to deter imports. This is equivalent to a reduction in the Treasury’s buying price and may account for the rumours of a reduction which are officially denied.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ST19370421.2.36
Bibliographic details
Southland Times, Issue 23179, 21 April 1937, Page 5
Word Count
142FLOW OF GOLD INTO UNITED STATES Southland Times, Issue 23179, 21 April 1937, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Southland Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in