AMERICA GOES OFF GOLD
BIG TASK FOR EXPERTS. MOVE TO PEG DOLLAR FORESHADOWED. WASHINGTON, May 31 The appointment of Professor Oliver W. M. Sprague (economic adviser to the Bank of England) to a similar post to the United States Treasury is construed in Washington as a move to the direction of the stabilisation of the dollar.
It is thought that it will be carried out either through the employment of a stabilisation fund, similar to that to Britain, or through an international agreement, establishing relative values for the pound, the franc, and the dollar.
The feasibility of stabilising currencies before the London Conference is being studied in Washington and London.
Professor Sprague is an American who has been in the service of the Bank of England for three years, and also professor of banking and finance at Harvard University since 1913. Before that he was three years professor of economics at the University of Tokio.
Thus another man is added to the prolessoriat which is wielding so much power-in the counsels of the United States.
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Timaru Herald, Volume CXXXVII, Issue 19512, 10 June 1933, Page 17
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175AMERICA GOES OFF GOLD Timaru Herald, Volume CXXXVII, Issue 19512, 10 June 1933, Page 17
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