An erroneous announcement from Washington one afternoon last week sent the stockmarket to a boiling close (see p. 10). Next morning, ignoring the fact that President Roosevelt was not preparing to cut the gold content of the dollar but was merely seeking to eliminate the gold clause from public and private contracts, speculators gave a mighty heave that shot prices to the best levels in two years. As the public rushed in to buy & buy & buy, transactions on the New York Stock Exchange swelled to an alltime Saturday record for...
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