The Archive · 1938

Congress Resolution

A. resolution calling for readjustment of purchasing power of the dollar to the 1926 level was introduced in the Senate and House of Representatives to-day.

Senator Elmer Thomas, Democrat of Oklahoma, who introduced the resolution in the Senate, blamed the current business recession on the collapse of prices resulting from a decrease in farm buying power. He proposed that-the Government reverse recent acts regarding gold sterilization and the increased discount rate on Federal Reserve bank requirements.

Vice-President Sergio Osmbna, Mr.

Interest has

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

Your account