INTERNATIONAL: Companionate Currencies

The latest international monetary announcement by U. S. Secretary of the Treasury Henry Morgenthau Jr., in which he said that the U. S., Britain and France have set up a "new kind of gold standard" (TIME, Oct. 19), was considered in some of the World's fiscal capitals last week important chiefly in persuading U. S. voters on the eve of election that the future monetary policies of President Roosevelt may be less radical than his acts to date.

The one place in which the Secretary's new kind of gold standard was taken seriously...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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