(by Charles Savoie) “GOLD HAS NO USEFUL PURPOSE TO SERVE IN THE POCKETS OF THE PEOPLE”—Pilgrims Society member Alan Sproul, president of Federal Reserve Bank of New York, addressing the anti-precious metals American Bankers association meeting in San Francisco (Vital Speeches of the Day, December 1, 1949, pages 108-114). “LONDON, May 16— The Pilgrims Society,…