Word: silver
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Dates: during 1930-1939
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What happened was simple. A year and a half ago the silver bloc in Congress, headed by Senator Key Pittman of silvery Nevada, passed a law instructing the U. S. Treasury to buy silver until the U. S. held one-third as much silver as gold in its reserves or until the price of silver reached...
...bought silver Monday. I bought silver Tuesday. I bought silver Wednesday. I bought silver every day this week...
With these solemn words Secretary of the Treasury Henry Morgenthau Jr. last week defended himself from the reproaches of the silver world. The reproaches had been leveled at him because the U. S. Treasury had just subjected the silver markets of London, Shanghai, Bombay, Manhattan and Montreal to as pretty a market crash as a speculator could have devised...
...London, international silver market, 20,000,000 oz. of silver were offered for sale. Because no buyers appeared, the bottom dropped completely out of the market. Incensed were silver traders at seeing their market wantonly disorganized. Incensed was many a U. S. silver man whose wrath rises if the price of silver moves in any direction except...
...object was to raise the price of silver. Under that law the U. S. bought silver, 704,831,000 oz. of it up to last week, and the price rose from 25? per oz. in 1933 to more than 65? an oz. early last week. As the price of silver mounted all the world began to sell silver to the U. S. China alone of all countries was on a silver standard...