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Gold profit to retire bond issues
The Treasury will retire two 2 percent conso bonds by August 1 using the gold profit from the 1934 dollar revaluation. The plan substitutes federal reserve notes for national bank notes, consolidating currency control but not altering total money in circulation. Banks gain reserves but must replace notes with lawful money. inflation risk is debated among officials.
MENTIONED IN THIS ARTICLE
William C Utley Ncle
Sam
Treasury Department
Franklin D. Roosevelt
Henry W. Morgenthau
the Treasury
Thomas Jefferson Coolidge
Treasury
Department
Federal Reserve
United States
Bank National Bank
Federal Home Loan Bank Act
The
Stabilization Fund
Congress
Federal Reserve Banks
Philippine Currency Fund
National Ledger
Coolidge
Morgenthau
Elmer Thomas
Dem
Oklahoma
National Bank
Tually
Chase National
National City
New York
O. M. W. Sprague
Trea Ne
Thomas’ ‘Sertion
Leobard W. Ayres