Courtesy Reuters

WE HAVE this year passed through the most acute international money crisis that has ever occurred in time of peace. The panic which began with the failure of the Austrian Kreditanstalt in May, forced the Hoover debt holiday and the freezing agreement on German short-time debts in June and July, wrecked the British Labor government in August and drove England from the gold standard in September, and then drained $738,000,000 of gold from the United States by the end of October, has no parallel for speed and magnitude in the history of international finance. Coming two years after the beginning of

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