FIRST BIG GOLD SHIPMENT
EXPORT BY UNITED STATES ANTI-INFLATIONISTS’ HOPES SIGNS OF ORTHODOX POLICY EXCHANGE RATE THE CAUSE By Telegraph—Press Assn.—Copyright. Rec. 8 p.m. Washington, Aug. 14. Anti-inflationists found encouragement to-day in the action of the Treasury in approving the exportation of the first sizeable gold shipments, £200,000, since the financial panic a year ago last spring. The move was quickly interpreted as a sign of orthodox policy, timed, whether or not by coincidence, to follow the Treasury’s numerous reassurances that the new silver plans contemplate no inflationary, extremities. Officials said the immediate and most obvious cause of the demand for gold for export was the. arayailing exchange rate of the franc and the dollar, which had run well above the point at which it was profitable to buy gold in the United States and sell it to France.
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Taranaki Daily News, 16 August 1934, Page 5
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139FIRST BIG GOLD SHIPMENT Taranaki Daily News, 16 August 1934, Page 5
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