What the President Did Not Say

Research Reports - 11/05/1934

Those who were anticipating definite information regarding the administration's plans for the future of the dollar were disappointed. So likewise were those who hoped for promises to balance the budget. Therefore, the door has been left open for such money juggling as may be deemed expedient in the future. It follows that the benefits of sound money will not be forthcoming in the months immediately ahead. The normal resumption of long term investment in private enterprises will be retarded and whatever recovery there may be will not rest on the secure foundation of balanced progress.

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