Fiscal experts agree, however, that adequate funds were available before the' Treasury's change of policy but that additional easy credit would have a beneficial psychological effect on business.
Under the Treasury Department's previous programme, the Treasury sterilized all gold over $100,000,000 purchased in.each fiscal quarter. The new policy will release all purchases until the Treasury decides that deflation is again desirable, For the present the Treasury will continue to purchase gold and place it in the Government's working bal. ance.
1f and when additional funds are required, the Treasury can issue gold certificates. Henceforth the Treasury will meet foreign demands for gold from the Treasury's working balance, the active stabilization fund or the inactive stabilization fund instead of from the sterilized fund—United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.