SILVER AND GOLD
FRIGE RATIO IN AMERICA SENATE AMENDMENTS DEFEATED Press Association—By Telegraph-Copyright WASHINGTON, January 24. The first attempt to inject inflation into legislation failed to-day, when the Senate, by 56 to 18, tabled two amendments to the "Glass Banking Bill, the first of which would remonetise silver at a rate of sixteen to one. The second would revalue the gold dollar by decreasing the gold standard. Tho attempt to peg the price of silver in definite relation to the price of gold is of much historic'interest, recalling the campaign issue on which tho Democratic candidate, Mr W. J. Bryan, unsuccessfully contested the Presidency in 1896. As tho present ratio of silver to gold is eighty-live to one, the adoption of tho amendment would have a revolutionary effect. Financial experts , including Senators Glass and Reed, denounced the amendment as certain to ruin the currency and bring financial chaos to the country. Despite the defeat of the amendment, the general debate revealed that the inflationists have considerable strength, apd they indicated that they would propose other measures to relieve tho debtor class.
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Evening Star, Issue 21320, 26 January 1933, Page 9
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181SILVER AND GOLD Evening Star, Issue 21320, 26 January 1933, Page 9
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