Abandonment of the gold s tion policy by the Treasury arca as a logical outcome c ecent steps towards credit expansion avd a completion of the Administration's retreat from iis deflationary policy adopted in 1936.
The practical effect, at least for the time being. believed to be Po. Moreover, the A d policy is now fay to day basis, with a reversal possible should developments warrant it.
In view of the outflow of capital which began after announcement of the pump-priming programme, exchange markets watched very closely and ltant outward flow of goid. corsidereble proportions, nuque ably would be met with measures to counteract the deflationary effect of such a trend—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.