National Affairs: Dollar Hunt

Last week the Treasury Department let it be known that approximately one and one-half billion dollars, 25%, of all U. S. currency, was in hiding. It was further estimated that a major part of forty-two millions in "circulation" the week before had disappeared into safety deposit boxes and other less formal hiding places. Since hoarded cash immobilizes the gold behind it national credit was being steadily strangled. Therefore President Hoover took action to lure idle dollars back into circulation. As usual, his method involved public education, mass psychology and an-other commission.

Last autumn...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!