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senator from Nebraska, not Governor of the Federal Reserve; Jesse Jones had served as head of the Reconstruction Finance Corporation, not the National Recovery Administration; the author of The Morality of Spending is Daniel, not David, Horowitz. The alternative is the Reconstruction Finance Corporation model, which we used in the Depression. On October 22, with the price of gold at $29 an ounce, Roosevelt, hoping that the program would raise commodity prices, authorized the Reconstruction Finance Corporation to purchase gold newly mined in the United States and, if necessary, to buy gold in the world market. |
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