Freeman

ARTICLE

The Gold-Disposal Plan or--A Case Of Geographical Discrimination

MAY 01, 1960 by H.P.B. JENKINS

Economist at Fayetteville, Arkansas

 

It was a windy afternoon

At story-telling time.

Old Kaspar shut the windows tight

and poured a rum-and-lime,

While Peterkin and Wilhelmine

Looked at the colorvision screen.

 

They saw a pier where armored trucks

Were stopping at the slips

And dumping loads of yellow bars

Beside the foreign ships,

Where men with solid wooden crates

Were standing by the loading gates.

 

"Now tell us what it’s all about!"

The little children cried.

"It is the Gold-Disposal Plan,"

Old Kaspar soon replied.

"The Federal Treasury has sold

A few more tons of surplus gold."

 

"Did we get paid for all that gold?"

Asked little Wilhelmine.

"The buyers paid," Old Kaspar sighed,

"In dollars long and green.

But since they live in foreign lands

We put the dollars in their hands."

 

"Would Uncle Sam sell bars of gold

To simple folks like us?"

"If we lived overseas he would,

With no delay or fuss.

But selling gold to people here

Would wreck the Money System, dear."

ASSOCIATED ISSUE

May 1960

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