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...

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