Every intelligent man understands the extreme importance of keeping the
United States dollar at par in the United States, and it is of equal
importance, according to the business transacted, to keep the United
States dollar at par in our foreign business. We bought last year from
other nations nearly three billion dollars’ worth of goods.
If the United States dollar is put at par and kept at par it will
become a stable measure of value in international contracts and will
enable merchants all over the world to use the American dollar as a
standard measure of value. This will lead to international business
being transacted on American dollars and will establish the prestige
of the United States throughout the world according to the actual
financial and commercial strength of the United States.