Word: bullion
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Dates: during 1930-1939
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...year. Hides were strong, and sugar hit a four-year high at 1.88? per pound for May futures. Wool was inactive at 90? per Ib. Silver trading has slowed to a practical standstill since announcement of a proposed 50% tax on all profits derived from sales of bullion to the Government, and the price has hung around 45? per ounce. Side by side with climbing commodity prices this spring has been an expanding public interest in commodity speculation. Many a New York Stock Exchange house has garnered more commissions from its seat on a commodity exchange than from...
...gold bullion standard (no gold coins in circulation...
Five proposals about the future of the C. S. dollar were the substance of the President's money message to Congress: 1) To issue no more gold coins; in future to keep all the monetary gold of the U. S. in the form of bullion [big gold bars] which will be used only in settlement of international trade balances. This step, generally foreseen, caused no surprise. Since gold coin is in little demand except in times of crisis and at such times goes into hoarding, it is worse than useless to the nation as a whole. 2) To have...
First, recognition of the fact that in most countries gold coin has been effectively withdrawn from circulation and monetary gold has been concentrated very largely in the vaults of central banks. With this there has developed a custom of using gold bullion instead of coin to redeem the notes of central banks...
Third, the fixing of a gold bullion, and not a gold exchange standard. Gold coin would not circulate, but all certificates would be gold certificates. Redemption in $5,000 bullion bars would be permitted, very much as the gold bullion standards of England and France have been operated in the past...