Word: profitable
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...Government of the United States is about to make a profit of about $2,000,000,000 and the money is coming from the American people, who patriotically turned in their gold and gold certificates last March. This is the capital levy or contribution which the nonhoarding public will make if the devaluation of the gold content of the dollar goes through as planned, namely on a basis of a discount of one-third from its previous par value...
...twelve Federal Reserve banks of the country and their branches. At the moment it belongs to the stockholders of those banks, which, of course, are owned in turn by the member banks. But it is inconceivable that banks would be permitted to make the immense gold profit which will accrue to holders of gold, for this would mean enabling one group of citizens to profit at the expense of all the rest. So the plan that no doubt will be followed by the Government here will be that which has been pursued in other countries when devaluation has occurred--namely...
...profit arises from the fact that gold has always been valued at $20.67 an ounce; but if the amount of gold content in every dollar is reduced by one-third and yet the unit of value is called a dollar, then less gold will be used for every dollar or, to put it another way, the gold supply will be converted into fifty per cent more dollars. The gold supply locked up is in the neighborhood of four billion dollars. Some of this belongs to the Treasury anyway, but most of it belongs to the American people who deposited...
...first aeronautics chief to come out of the industry. But the most important phase of his career - vice president of Ludington Lines (hourly service between New York, Philadelphia & Washington) - was insurgent. Bitterly critical of extravagant operation and fat subsidies, he helped prove that an air line could profit without airmail contracts. First thing Director Vidal did after taking control last week was to reorganize the Branch from three divisions into two: Air Navigation and Air Regulation, headed respectively by Rex Martin and Major Cone. Other points in the Vidal program...
...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...