National Affairs: Profit into Action

When the dollar was devalued last January, a $2,800,000,000 "profit" from gold was left in the U. S. Treasury. Later Congress gave the Secretary of the Treasury $2,000,000,000 of that profit to use as he saw fit in stabilization of dollar exchange. Promptly he told the Press that he would never say a word about the operations of the fund. The "gold increment" of devaluation remained as such on the Treasury's balance sheets until last week, when $2,000,000,000 suddenly dropped out of that figure and a new item cropped up, a liability of...

Want the full story?

Subscribe Now

Subscribe
Subscribe

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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