Dollars, Gold, and International Payments
Remarks of Wm. McC. Martin, Jr. ,
Chairman, Board of Governors of the Federal Reserve System,
Annual Dinner Meeting of
The Bond Club of New York
New York City
February 11, 1965
"Two weeks ago, a proposal to modify our laws regarding the holding of gold as monetary reserves was put before the Congress by the President of the United States. In the interval since, we have had considerable discussion not only of that proposal but also of the entire subject of dollars, gold, and international payments.
To me, that is as it should be, for these are matters that deserve the interest and understanding of us all. Accordingly, I should like to add some comments on them tonight, though I realize that little that I might say could seem new to a group as well versed in finance as this..."