STABILISING THE DOLLAR
BONDS A 8 CURRENCY. A SENATOR’S PROPOSITION. COMMITTEE REPORT FAVOURABLY>United Press Assn.—Elec. Tel. Copyright. (■Received June 2, 12.30 p.m.) WASHINGTON, June 1. I The Senate Banking Committee reported favourably upon a proposal by Senator Glass (Democrat) to make all Government Bonds eligible for issuance as currency as a substitute for the Goldsbrough Dollar Stabilisation Bill. The chairman (Senator Norbeck, a Republican) said this would permit the issuance of probably a 1,000,000,000 dollars (approximately £200,000,000) more currency. It was thought the substitute plan would bring about a quicker extension of currency that the Goldsbrough Bill. Senator Norbeck said that virtually no opposition had developed in the com-. mittee to the plan, which he reported immediately to the Senate. The measure sponsored by Senator Goldsbrough which had passed the House, would have directed the Federal Reserve Board to stabilise tho purchasing power of the dollar at the 1921-29 level by continuing its open; market operations.
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Waikato Times, Volume 111, Issue 18652, 2 June 1932, Page 7
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156STABILISING THE DOLLAR Waikato Times, Volume 111, Issue 18652, 2 June 1932, Page 7
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