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Richard M. Boeckel, Editor.
Present Rapid Rise of Business Activity
The depth of the administration's concern lest the present recovery movement assume boom characteristics and proportions was given forceful expression on December 21, 1936, when the Treasury announced adoption of an entirely new policy evolved for the purpose of preventing future gold imports from being used to enlarge an already more than ample credit base. This step supplemented the previous action of the Federal Reserve Board of Governors in raising by 50 per cent, effective August 15, 1936, the reserve ...