So long as $35 an ounce is being paid for the metal, there seems to be no likelihood of any change in the near future that would reverse the movement of gold here. With nearly all European nations either at war or preparing for war, the flow of gold here in recent months has been accelerated.
To avoid further accumulation, it has been suggested that the United States mint all future purchases of gold. In this way the existing price of $35 an ounce could be maintained without increasing the reserves in the Federal Reserve Banks to an undesirable extent. Such plan also would not disturb existing relationships between the Treasury and the Federal Reserve Banks as to the gold presently held. In addition, it would not impose upon the government the burden of purchasing gold that it does not want.
Text read from the printed page and cleaned; old type leaves the occasional error.