Word: hoards
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...been a target for bear raiders all week, plunged one day fully 1? off parity, as the Bank of The Netherlands raised its discount rate from 3% to 5% to 6%, and grimly paid out 1/9 of its gold reserves to Dutchmen who are perfectly at liberty to hoard. The week closed with the guilder still 84.8% backed by gold...
Five notable results of President Roosevelt's silver purchasing policy have been: 1) a panic in China, 2) temporary dislocation of the Mexican banking system, 3) enrichment of a number of speculators at home & abroad, 4) accumulation of an enormous hoard of bullion which the Treasury may never be able to sell and 5) booming bar trade in all the mining camp saloons of the Mountain States...
...often be less than the market price, wheat farmers are to receive participating certificates entitling them to share in the Board's profits, if any. More important than these provisions is the declaration of a new policy of "continuous sale" of wheat. The Board is specifically forbidden to hoard grain or conduct stabilization operations. It must pour its holdings, old and new, into the export market as speedily and profitably as possible, "at any price" it can get. Since the pool's holdings are 226,000,000 bu. and since another 250,000,000 bu. surplus will be coming...
...offered an immediate chance to exchange their securities for 1) otherwise identical non-gold-clause bonds, or 2) cash at par. This was a plain invitation by the Government to the public: If you are afraid of inflation, cask your bonds now and use the money to hoard commodities or anything else you think will protect yon from inflation. Little danger did the Treasury run of the public's demanding $10,000,000,000. Any bondholder who wants cash can do far better by selling his Federal securities on the market (last week Governments were up to 117) than...
...Moines a suspect held by the police explained his hoard of dimes by insisting he was a coin collector. Des Moines and other Iowa banks had to call on Chicago's Federal Reserve for fresh supplies of dimes...