Profit

While President Roosevelt conferred and cogitated at Washington about currency inflation, the dollar hit a new low of 63.71-c- gold on international exchange. The Federal Reserve automatically jumped to a new high of $32.28 an ounce the price of gold which it sells abroad on consignment from U. S. miners. At that price the monetary gold of the U. S. Treasury and the Federal Reserve was worth in world markets $6,400,000,000. On the books that gold is carried at the old legal price of $20.67 an ounce or a total of $4,329,000,000. Thus in the last six months the U. S. made a paper profit on its gold holdings of $2,100,000,000.

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