OFF GOLD BY LAW
UNITED STATES DECISION GOLD STANDARD ACT REPEAL CHANGE IN DEBT PAYMENT PAPER MONEY ACCEPTABLE STOCKS INSTANTLY MOVE By Telegraph—Press Assn.—Copyright. Washington, May 26. President Roosevelt decided to-day that the United States should go off the gold standard by statute. The President requested Mr. Steagall, chairman of the House of Representatives Banking Committee, to introduce a motion to place the United States off the gold standard by law. Mr. Steagall said that the resolution would repeal the Gold Standard Act. No bonds or obligations of the United States Government* and no obligations of any form would have to be paid in gold or gold currency. When the measure was enacted it would be possible for foreign debtors to pay the war debts to the United States in "any legal money. It would also make it unnecessary to devaluate the gold dollar under the Farm Relief Act inflation provisions.
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Bibliographic details
Taranaki Daily News, 29 May 1933, Page 7
Word Count
151OFF GOLD BY LAW Taranaki Daily News, 29 May 1933, Page 7
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