With gold speculation still feverish in the wake of the pound's devaluation, a high-ranking U.S. monetary official flew into Switzerland last week in defense of the dollar. After consultation in Basel with representatives of the international gold pool, Under Secretary of the Treasury for Monetary Affairs Frederick L. Deming emerged with the tantalizingly vague news that "we have agreed on an even closer coordination of our efforts."
Though details remained secret, what Deming was referring to was fresh moves by the pool's seven active members (the U.S., Britain, West Germany, Italy, Switzerland,...
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