UNITED STATES CURRENCY

Hawke's Bay Tribune, Volume XXIII, Issue 106, 18 April 1933, Page 7

UNITED STATES CURRENCY

MR RAINEY FAVOURS EXPANSION. REMONETISATION OF SILVER. (Received 18, 10.30 a.m.) WASHINGTON. April 17. The Speaker, Mr Rainey, said at a press conference to-day that he personally favoured some expansion of United States currency and preferred it to he undertaken on the remonetisation of silver. Mr Rainey said he had not discussed the remonetization of silver with President Roosevelt and did not know the Administration’s attitude. He would not take the initiative in pressing for silver legislation, adding that he would leave it with the President. “I think that the United States can go ahead on the plan to remonetize silver without agreement with England and France, but it will be better if we can get the concurrence of these countries.” THE INTERESTS OF BRITAIN. OUTBURST BY SENATOR WHEELER. (Received 18, 12.55 p.m.) WASHINGTON, April 17. Senator Wheeler (Democrat, Montana), bringing the coming Economic Conference into the Senate inflation debate, said he did not believe that England would agree to remonetise silver because she had a trade advantage over America and wanted to keep it. “Why should she!” Senator Wheeler shouted. “They want to keep up on the gold standard. We’ve never lost a war and never won a conference. The one thing England is interested in is cutting down the debt she owes to America. She is not going to permit the American dollar to be cheapened unless we cut those debts.” Senator Borah spoke on behalf of currency inflation declaring it was tho only hope of aiding the farmer and raising commodity prices.