A dollar of gold is ten dollars of potential credit.
Last week as another great inflow of gold reached the proportions of a flight to the dollar, U. S. bankers became acutely conscious of that old thumb rule for figuring the nation's credit base. In the past month more than $200,000,000 of the yellow metal has been shipped or is awaiting shipment to the U. S. Most of it was disgorged by hoarders, frightened by the European war buzz. Since all gold landed in the U. S. must be sold to the Treasury,...
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