Show I DOLLAR POLICY i SHOWS RESULTS I I J Record Low Level Reached J Aims 1 as Depreciation Go Forward Forwards f s- s WASHINGTON Nov 10 UP Ad UP-Ad- Ad oC s of ot the Roosevelt lions lion's new dollar depreciation policy felt feU today that their plan had begun to o show ICS results X They pointed to a taU fall of the dollar dolla to record low v levels in terms of foreign for eign elga currencies and to accompanying gains in stock and commodity markets There was no way of telling to what wha extent the gains were directly due to the to-the the governments government's new effort to lift lif r prices by depreciating the dollar r through purchases of 01 gold at home anc and abroad But in any event the movements move move- meats ments Of f the dollar and the markets were in line with the administrations administration's alms IN N Faction Opposition 4 Among the factions that opposed the new rew gold policy the dollars dollar's downhill skid caused growing concern The possibility of or retaliatory action by foreign loreign for lor eign governments was discussed When the government inaugurated Its Us gold buying program on October 15 the dollar stood at to the British pound sterling That is a person converting rUng dollars into pounds could get one pound for each in American funds When both coun coun- tries were on the gold standard the ratio was fixed at Since October 25 the foreign exchange ex ex- change hange value of ot the dollar doUa has dropped steadily to the accompaniment of successive successive suc sue advances in the price offered here bere for gold The decline became abrupt yesterday and at the opening today the dollar was quoted at to the pound Similar declines oc oc occurred occurred in terms of at other foreign cur cur- i. i The The presidents president's aim is to restore prices to somewhere around the 1926 l veL Commodity Index The labor departments department's index of wholesale commodity prices c calculated ed d on a basis of ot 1026 equalling stands at for the last week unchanged un Un- changed from the preceding week and only fractionally higher than the September September Sep Sep- figure The price index hit a alow alow alow low of 59 8 in March and rose gradually gradually gradually grad grad- through September 4 Chairman Jo Jones es of the Reconstruction tion Finance corporation who is in charge 1 arge of the gold purchases declined d to g give gc c any indication Uon of th the size of these operations t Jones disclosed that since October 25 the government has bas purchased ounces of newly-mined newly domestic gold at a total price of around |