Word: funds
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Dates: during 1930-1939
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Theodore Chase '34, of Concord, has been appointed Senior Class Agent of the one million dollar Harvard Fund, an organization supplying the University with money from voluntary graduate contributions. Chase, who was recommended for the appointment by the Senior Class Officers, prepared at Groton, was editor-in-chief of the Freshman Red Book, Manager of the 1933 Hasty Pudding Show, and is at present Treasurer of the Student Council...
...Harvard Fund, of which Samuel H. Wolcott '03, is chairman, was founded in 1925 as a permanent organization to secure yearly voluntary contributions from the Alumni. There is no restriction as to how this money should be used by the University, and the amount fluctuates with the current conditions. As Class Agent it will be Chase's duty to send annual appeals to the members of his class and to supervise the collection of the contributions. These appeals must be over the agent's own signature...
...content of the dollar from 100? to 59.06?. By the same proclamation he took possession of the gold reserve ($3,500,000,000) of the Federal Reserve system, authorized the Treasury to buy gold, foreign or domestic, at $35 an ounce, and put its $2,000,000,000 exchange fund into operation. Next steps...
...there. Since the Bank of England is not a seller of gold, the gold merchants turned to gold standard nations, particularly France, sold sterling to buy francs, converted francs into gold for shipment to the U. S. This selling of sterling forced down the pound (which the British equalization fund did not support) faster than the dollar. At one time it touched $4.87 whereas before the proclamation it had been over...
...form of gold Secretary Morgenthau did not have to worry about keeping the exchange value of the dollar down. But he was well aware that if France, frightened by the gold exodus, put an embargo on gold exports he would have to use his exchange fund to sell dollars. How many hundreds of millions of dollars he might have to sell to keep the dollar down no one knew...