The outstanding event of the month—perhaps of 1925—was the official resumption, last week, of the gold standard in Britain. Chancellor Churchill took his usual bold way. He resumed by resuming. Credit and trade in the U. S. as well as abroad was stimulated. His announcement showed how impressively Britain has buttressed her gold position to acquire a credit of $200,000,000 with the Federal Reserve Bank of New York, as well as one for $100,000,000 with J. P. Morgan & Co. It is probable that these credits will...
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