FOREIGN TRADE: Vanishing Exchange

Last week some $500,000,000 of Allied gold arrived in Manhattan. It was unloaded from 120-odd trucks behind machine guns at the Federal Reserve Bank entrance on Maiden Lane, carried into subterranean vaults whose outer flanks are lapped by seepage of the sea. Like a cloudburst over the cataract that has brought $12,000,000,000 of gold to the U. S. since 1934, this $500,000,000 raised the total monetary gold owned or held in the U. S. to around $2 1, 000,000,000, of which over $19,000,000,0001s U. S. Government-owned. This is over 60% of all...

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