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Show NEW MONETARY POLICY BEGINS WASHINGTON. Feb. 15 if.i;) Tre treasury inaugurated a new monetary policy today that may expand credit facilities by $4,00G-000.000 $4,00G-000.000 during 193S . Government economists said that the virtual suspension of gold sterilization operations may produce pro-duce an Inflationary psychology that should stimulate business and industry. Treasury officials viewed the new policy as only mildly inflationary infla-tionary but agreed that one of the barriers to credit expansion had been removed. One official explained the situation in these words "When we set up the gold sterilization ster-ilization fund, it served to put the brakes on any possible inflation infla-tion that might have resulted from the tremendous inflow of gold from Europe at that time. Now we are taking the brakes off. It won't push the wagon up hill, but it will make it easier for the horses to pull it." Under the latest monetary move, the treasury was prepared to place in circulation during 193S up to $-100,000,000 which otherwise would be "frozen"' in the sterilization steriliza-tion fund. Economists estimate that each dollar has a credit value of $10. |