Twenty crimson-dyed wooden kegs of Siberian gold bars (U. S. casks for gold export are white) stood idle four days of last week in the vaults of the Chase National Bank and the Equitable Trust Co., Manhattan, eating up $700 a day interest at the expense of the Union of Socialist Soviet Republics, which had exported gold to the U. S. for the first time. Standing orders have outlawed Russian gold since 1920. [Only last month Secretary Frank B. Kellogg had ruled against cashing of Russian Soviet railroad bond coupons by the Chase National (TIME, Feb. 13).]
But last week President Coolidge...
To continue reading:
or
Log-In
