¶ Following the President's order (TIME, Sept. 11) the Treasury last week began to pay U. S. producers the world price for gold. First the Treasury paid $29.62 an ounce$8.95 more than the statutory price of $20.67 which producers have always received. Then gold prices slumped in London, sterling and the dollar rose in exchange value. Next day the Treasury paid gold producers only $29.12. Quickly gold producers were taught that henceforth the price of their commodity is a great uncertainty. ¶ Silvermen, jealous for years of gold producers' greater prosperity, quickly demanded...
To continue reading:
or
Log-In
