VALUE OF DOLLAR.
U.S. Treasury Reassures Country. WASHINGTON, February 11. As another day passed without the Supreme Court giving any indication when its decision on the gold clause case may be expected, Mr Henry Morgen thau (Secretary of the Treasury) took occasion to issue the following statement:—“The country can go about its business with the assurance that we are prepared to manage the external value of the dollar as long as is neeessary.” Mr Morgenthau also made public the first official information regarding the operation of the two billion dollar Stabilisation Fund. lie said that as a result dollar prices had been generally stable on the foreign exchange markets. The price of gold had dropped to 36.41 dollars an ounce on January 16 and was now 34.96 dollars an ounce, within four cents of its new statutory' Mr Morgenthau declined to reveal how much of the fund had been used for exchange operations.
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https://paperspast.natlib.govt.nz/newspapers/TS19350213.2.19
Bibliographic details
Star (Christchurch), Volume LXVI, Issue 20538, 13 February 1935, Page 1
Word Count
153VALUE OF DOLLAR. Star (Christchurch), Volume LXVI, Issue 20538, 13 February 1935, Page 1
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