Abstract

Everybody's Business
February 17, 1940 issue

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The article author had earlier pointed out that the redistribution of excessive gold holdings in the U.S. could only come about when the country was willing to buy more goods and services from other countries than it sold to them. Until then, or so long as the nation is prepared to pay a fixed for the metal, the country's hoard will continue to go. It is possible to argue, however, that this process is not doing any serious harm and may be doing some good. For while there are unemployed men and idle machines one might as well utilize some of them to make goods for other countries even if all one gets in exchange is a metal of questionable value.

See Also:

GOLD standard; UNEMPLOYMENT; INFLATION (Finance); UNITED States -- Economic conditions; GOLD; UNITED States
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