Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-04-19

Government orders that all boarding
of gold shall cease on May l under
penalty Of fine or Imprisonment arouse
strong expectations of unusual proceed
ings when the time limit is reached.
Compliance with the order is placid by
the country on the basis OF good citizen
ship. and the general conclusion Is that
the need of control over the gold supply
of the country is urgent.
Arbitrary, very arbitrary" says the
Hartford Times, I'VE must admit. But
necessity, and clear, inSistent national
emergency are the arbitrator. People
owe them obedience and respect, as good
citizens and as men and women of
LOYALTY and courage" The Oakland
Tribune emphasizes the fact that the
gold is needed by the country and that
which Is boarded serves no purpose.
and declares that the executive order
lis aimed solely at those who have ig-
norantly or selfishly s2creted the metal
or the certificates
THE hoarder," in the opinion Of the
San Antonio Express. lis comparable
with the Stacker in wartime. and Is
not doing his part in keeping up those
activities which are essential to the
Nations life" That paper regards him
as "a public enemy, perhaps. unwitting-
". his own enemy" The Dayton Daily
News holds that the present policy.
now obviously wise and necessary. puts
our money system in new light" The
News adds: If there is to be no pri-
vate god. then gold. as money base,
Is q Government possession with purely
a psychological effect. The change
opens the way to such a management
of money as to forbid the extreme price
fluctuations which go with panics and
the boarding of gold 1t may point
to a much more stable dollar-a more
stable price level-than hitherto has
been possible"
President Roosevelt apparently is
very determined" in the opinion of the
Bloomington Paragraph. that what
hoarders there are left in the country
shall be smoked out" The Glendale
tCalif.) News-Press suggests that the
Presidents mere appeal to the hoarders
should be sufficient to convince them
of the wrongfulness. the selfishness and
the waste involved in the attitude they
have adopted" That paper concludes:
They rest in fancied security If they
think themselves safe from detection.
An alert administration Is intent upon
reforming them and has the power to
resort to drastic methods in doing SO.
Fine and Imprisonment are provided
as penalties for their offense. Sub
,ected to either penalty, they would be
the losers. Part of the possibility IS
the loss of money. while there is a
certainty that loss Of reputation would
ensue There might be an excellent les
son in placing some Of the hoarders
behind the bars. Then the others would
be assured Of the serious purpose OF
the Government"
what they fear" according to the
Charleston Is. CO. Evening Post, rs
imitation, but if all the gold now in
the country is available to the Federal
Reserve system as currency basis,
there will be less. danger of imitation
than If substantial part of 1t is kept
out of use in lock boxes. And If any,
thing like currency imitation should
arrive, it Is quite certain that the Gov
eminent will see to it that nobody who
has gold will be able to do anything
with it but turn it over to the Govern
ment At the present time gold dol
lar will purchase exactly as much as a
paper dollar anywhere in this country.
and no more. There Is no likelihood
that it will be able to purchase more
at any time"
Quoting from the Treasury report of
the movement Of money In March. the
New York Times brings out the fact
that Government efforts have already
had an effect on the boarding situa-
ton. The paper concludes: THE most
striking change Of the month was the
substantial return Of gold coin and gold
certificates to the Treasury and the
Reserve banks. Only $3.50 ,000. 900 In
these two types Of money was in cir
culation' on April l. This figure COM
pares with Also, 100000 for the same
date . year 80 and with 81 ,401 600. 900
On April !, 1881. It u far below the