MONEY: Grandstand Play

In April 1933, the U. S. dropped the gold standard like a hot cake. All exports of gold to keep the dollar at 100¢ ceased. Last January the dollar was given a new par of 59¢ and went back on what Washington liked to think of as a new gold standard. Gold poured into the U. S. from abroad to keep the dollar from climbing above par — $880,000,000 of it at the new value. But from January until last week not one ounce of gold left the U. S. to bolster up...

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