Fed says gold reserves back new notes enough to rise money supply
The Federal Reserve reports sufficient gold resources to increase currency in circulation by over 50 percent without inflationary measures. It can issue nearly 3 billion dollars of new notes with each dollar fully backed by gold above the required 40 percent, signaling rapid post press release action.
MENTIONED IN THIS ARTICLE
Washington
United States Federal Reserve
Federal Reserve Bank
Federal Reserve
Dollar Rise Nets London Market Shifts
The gold price moved higher by 1 dollar 56 cents above London, while the franc and sterling closed lower and the dollar gained against both. Washington debates the 1938 federal budget with focus on balancing ordinary expenses while funding emergency relief and anticipating 2.6 billion dollars in ordinary expenditures.
MENTIONED IN THIS ARTICLE
Washington
Roosevelt
Larger Army for Germany Reaches 400000 Strength
The Paris correspondent of The Daily Telegraph reports Hitler asked for a Reichswehr strength of 400000 serving one year with defensive weapons. Germany seeks surrender of other powers’ weapons within a time limit or permit hitlerized forces to retain them, possibly under an international commission to decide limits.
MENTIONED IN THIS ARTICLE
London
Paris
The
Daily Telegraph
Germany
Loch Ness Monster Sighting Reports Stir Public Curiosity
Reports of strange monster sightings at Loch Ness span several months with scores of witnesses. Local officials and researchers consider private enterprise and secrecy as possible factors shaping the mystery.
Germany ready for service 2,700,000 says Debeney
General Debeney, member of the Supreme Council of War, estimates Germany has about 2,700,000 men in military training and a capacity to produce 2,500 airplanes monthly. He notes the Reich exceeds Versailles motor car limits and draws on nickel tungsten and cotton imports as signs that industrial mobilisation has begun.
MENTIONED IN THIS ARTICLE
Paris
Debeney
Supreme Council of War
Germany
Reich
Industria
Year's Work Review by Mr Lyons in Australia
Melbourne broadcast reports Prime Minister Lyons praising substantial improvement in Australia's position over the year. He cites reduced heavy taxation and wage reductions, tariff reform easing protection, and lower duties than 1921 28 British rates. Exports rose about £4.2 million and imports gained £13.5 million in purchasing power. National credit shows improvement via loan conversions with hopes for further action.
MENTIONED IN THIS ARTICLE
Melbourne
Mr. Lyons
Australia
English Opinion of MCC Cable Sparks Melbourne Debate
Melbourne and London opinion pieces debate the MCC cable reaction. The Australian mood favors Jardine as captain and Queensland critics call the MCC reply a rebuff, while a Board of Control member disputes the cable’s terms and timing.
MENTIONED IN THIS ARTICLE
Melbourne
M.C.C
W. Kelly
Board of Control
M.lc.c
German Debts Speech Signals End to Foreign Loan Payments
Dr. Hjalmar Schacht told the German Chamber of Commerce in Switzerland that Germany cannot pay interest on foreign loans again. He condemned the transfer treasure drain as immoral and warned creditors to help avert a global crisis. The Daily Express notes German bonds fell several points after his remarks.
MENTIONED IN THIS ARTICLE
Reichsbank
Dr. Schacht
German Chamber of Commerce
Switzerland
Germany
Daily Express
British Attitude in Dominions Debate Aids Yeas
A fragmented lead discusses the yeas and British stance in a dominions debate. The text hints at consultation and regional attitudes shaping the opinion on imperial policy.
Free State Loan Undersubscribed In Dublin
The fourth Irish Free State 3 per cent loan of £6,000,000 was undersubscribed today with underwriters to take up the balance. Last minute subscriptions included £100,000 from the Free State Courts funds, £50,088 from Galway Hospital, £14,000 from Cardinal McCrory, and other contributors. The commercial sector supported the loan, but the total fell short of expectations.
MENTIONED IN THIS ARTICLE
Dublin
Amionist
Free State
Galway
Cardinal McCrory
de Valera
British Exports Rise for Fifth Month in a Row
The Board of Trade reports November exports rose for the fifth straight month year on year. November exports climbed 20,430,575 pounds with total exports at 54,434,000 pounds and re exports at 3,690,000 pounds. Major import gains include wood and timber 853,000 pounds raw cotton 507,000 wool 802,000 while exports increased in iron and steel 369,000 cotton yarns 427,000 woollen yarns 452,000. Meat and other foods and drinks fell by 770,000 and 1,312,000 respectively.
MENTIONED IN THIS ARTICLE
London
Board of Trade
Ship Subsidies Debate Marks Navy and Merchant Marine Woes
Britain debates subsidies as Empire League speakers urge action to protect the empire’s sea power. L. S. Amery warns against indefinite reliance on subsidies while Sir Robert Horne argues for matching foreign fleets. Resolutions decry the Royal Navy’s decline and mercantile marine competition.
MENTIONED IN THIS ARTICLE
London
L. &. Amery
Empire League
Robert Horne
Mercantile Marine
Revision of Government in Australia Subdivision Favoured
The Minister for Education Mr Drummond told the Chartered Institute of Secretaries that most people are dissatisfied with current distribution of governmental power in Australia. He cited overlapping arbitration and taxation, lack of transport policy coordination, and an uneven Federation with NSW and Victoria dominating Parliament.
MENTIONED IN THIS ARTICLE
Sydney
Australia
Education
Mr. Drummond
Chartered Institute of Secretaries
Federation
New South Wales
Victoria
Notable Guests Named For Melbourne Centenary
The Melbourne Centenary Council voted 5000 to invite distinguished visitors for the Melbourne centenary. Five of ten official guests were announced: James Barrie, Winston Churchill, Rudyard Kipling, Sir Malcolm Campbell, and the Countess of Athlone.
MENTIONED IN THIS ARTICLE
Melbourne
Spanish Rising Over Barcelona Ends Amid Railway Disobedience
In Spain on Tuesday the rising seems to have ended as most railway workers ignore the Labour Federation call to strike. Bridges between Barcelona and Zaragoza and between Saragossa and Madrid were damaged during disturbances.
MENTIONED IN THIS ARTICLE
Barcelona
Labour Federation
Garagossa
Saragossa
Madrid
Cold Wave Grips Eastern United States
A severe winter cold wave tightens its hold on the eastern United States. Reports indicate lingering icy conditions and heavy winds, with New York and nearby areas enduring frigid temperatures and travel disruptions.
MENTIONED IN THIS ARTICLE
New York
United Meats Ee Y Ceomeeaina
Mr Parkhill to Attend International Postal Conference
The Postmaster-General Mr Parkhill will attend the International Postal Conference in Cairo in February and also visit England to review development proposals for the Northern Territory.
MENTIONED IN THIS ARTICLE
Melbourne
Parkhill
Cairo
Engwat
Denne
Northern Territory
Death of Miss Caroling Isaacs Noted in Local Obituary
The death occurred today of Miss Caroling Isaacs, sister of Govetase Cloperal, aged 72. Bir Iease Isaacs is affected by his sister's death. She was in good health prior and was expected to return home by the week end.
MENTIONED IN THIS ARTICLE
Melbourne
Caroling Isaaca
Sterling loan proposal floated on London market
I New York debts Sterling Loan Proposal are available on the London market at about 89 per cent. Selling at the rate would yield them about 116 per cent. It is suggested that the Commonwealth might consider floating a sterling loan to buy or convert its United States issues while the dollar is so low. This could probably be done on a 34 per cent basis.
MENTIONED IN THIS ARTICLE
London
Commonwealth
United States
Australian Constitutional Debate Proposes Smaller States Alternative
Drummond argues for a fourth option to subdivide existing States into smaller units. He says any constitutional change should be finalized by referendum and favors establishing smaller states to broaden local governance and flexibly handle subjects across Australia.
MENTIONED IN THIS ARTICLE
Commonwealth
Drummond
Eee
Bread War Sparks Sydney Bread Price Clash
A bread war erupts in Sydney as Master Bakers' Association members hike prices to Sd while many shops sell at 4jd. A Bondi shop displays a sign refusing to sell bread from a particular baker, claiming supplies have been stopped. The association's secretary Mr. Israel cites the Federal flour tax of £4 5s as context.
MENTIONED IN THIS ARTICLE
Sydney
Master Bakers’ Association
Bondi
Israel
Last Upper House Ballot Faces Tightest Result Yet
The upcoming upper house election presents a less predictable outcome than previous ballots. Extensive lobbying has occurred in the last fortnight and influence is expected to be widespread. Eighty one names appear on the ballot, with three candidates Dr Grieve Mr G H Varley and Mr W Chapman identified as Genes.
MENTIONED IN THIS ARTICLE
Dr. Grieve
G. H. Varley
W. Chapman
Stowaways On Raille From Admiral Byrd At Bea
On Tuesday afternoon the Jacob Ft eight hours from Ww at 10 knots maneuvered to the rear as stowaways on the ship were noted. The article describes the approaching vessel and an attempt to address the situation aboard.
MENTIONED IN THIS ARTICLE
Raille
Admiral Byrd
Bea
Jacob Ft
Venus
German Church Ideology Shapes Norse Gods Debate
Berlin report notes a discussion on the idea of Norse gods within German church circles. The article, written in plain language, references extremism concerns and the influence of drug rhetoric on religious debate.
Also Mentioned on This Page
U.S.A. Federal Reserve
Britain
France
Hitler
Loch Ness
Belgium
M.C.C. Cable
Daily Herald
Jardine
England
Dominions
Yeas
OF Government IN
U.S.A
MR. Parkhill
Miss Isaacs
Sterling Loan
Tolstoy
Berlin
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