Ever since the gold bill was passed (TIME, Feb. 5) gold has been flowing into the U. S. from abroad at a record-breaking rate. Imports for the past fortnight totalled over $300,000,000, exceeding the all-time high of $159,600,000 in December 1916 (even allowing for the decreased gold content of the dollar).
The gold flow put an immense strain on U. S. Assay offices as importers, eager for profit, dumped hoards of foreign gold upon them. Chief receiving office was the chaste granite building which stands on the Manhattan waterfront looking across the East River...
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