Business: Gold Panic

In a small, carpeted, oak-paneled room in the offices of N. M. Rothschild & Sons on London's St. Swithin's Lane, six immaculate gentlemen gather every morning except Sundays and bank holidays to fix the world price of gold. These six men, the so-called Gold Committee, represent six great British bullion brokers: N. M. Rothschild & Sons, Mocatta & Goldsmid, Samuel Montagu & Co., Pixley & Abell, Sharps & Wilkins, Johnson, Matthey & Co. Before each member is a telephone directly connected with twelve telephones in his home office. There attentive clerks are...