MONEY: No Obligation But . . .

The U.S. Treasury last week tried to clear up a year-old financial mystery with some fiscal double talk. It stiffly announced that the U.S. is not obligated to redeem the millions of dollars worth of invasion currency which U.S. armies have used in invaded countries. Said the Treasury: "No promise of redemption was ever made. No invasion currency carries any legend suggesting redemption by the U.S. . . . We have no secret understandings that we will ever do so."

Despite these uncompromising words, the plain fact was that the U.S. has already made good in part on much of this...

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