yet.

Some people are putting the cart before the horse. They want a
permanent revaluation of the dollar first. It is the government's
policy to restore the price level first. I would not know, and no
one else could tell, just what the permanent valuation of the
dollar will be. To guess at a permanent gold valuation now would
certainly require later changes caused by later facts.

When we have restored the price level, we shall seek to establish
and maintain a dollar which will not change its purchasing and debt
paying power during the succeeding generation. I said that in my
message to the American delegation in London last July. And I say
it now once more.

Because of conditions in this country and because of events beyond
our control in other parts of the world, it becomes increasingly
important to develop and apply the further measures which may be
necessary from time to time to control the gold value of our own
dollar at home.

Our dollar is now altogether too greatly influenced by the
accidents of international trade, by the internal policies of other
nations and by political disturbance in other continents. Therefore
the United States must take firmly in its own hands the control of
the gold value of our dollar. This is necessary in order to prevent
dollar disturbances from swinging us away from our ultimate goal,
namely, the continued recovery of our commodity prices.

As a further effective means to this end, I am going to establish a