The Archive · 1933

The New Crisis

Apr, 28.

The financiers and expert economists are said to be confused by the latest developments of the financial situation in the United States of. America. No fidence need be felt by lesser folk in confessing to the same mental condition, America has aplenty of gold this abandonment of the gold standard, after so many hesitations, cannot be called unexpected. "It is, however, difficult to understand. a protection of the commodity market in America it is an expensive device. Silver enthusiasts receive little encouragement. Whatever their metal gains by the new measures will be shared: by other commodities. Remonetisation scheme cannot retard: recent movements in silver-using countries for the diversion of hoarding to. the regular practice of thrift under banking auspices. Perhaps the most important feature of the

Text read from the printed page and cleaned; old type leaves the occasional error.

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