U.S. FINANCE

Hawke's Bay Tribune, Volume XXIII, Issue 107, 19 April 1933, Page 7

U.S. FINANCE

CURRENCY INFLATION BILL’S PASSAGE PREDICTED. IMPORTANT AMENDMENT WITHDRAWN. By Telegraph—Press Assn.—Copyright(Received 19,-11.45 a.m.) WASHINGTON, April 18. Passage of a currency inflation bill this session was predicted by the Speaker, Senator Rainey, who said that the Administration desired to submit its own plan. That was why the Democrat leadership was seeking to prevent other measures being brought to a vote. Senator Thomas (Democrat. Alabama) to-day withdrew his proposed inflation amendment to the Administration Farm Relief Bill, announcing that he reserved the right to rcoft'er it. His amendment was to have been the second attempt of inflationists following the defeat by 43 votes to 33 yesterday of the proposal for the free coinage of silver at a ratio of sixteen to < ie with gold. Despite this setback inflationists are cheered bv the gain in strength ovei January's test. EFFECT ON BRITISH CURRENCY. (Received 19, 10.45 a.m.) NEW YORK, April 18. The talk of currency inflation legislation hoisted British currency to-day. At noon the pound sterling had reached 3.491 in United States funds. 3J cents higher than yesterday’s close. The Canadian dollar advanced threesixteenths to 83 15-16. PRESIDENT TAKES OVER. (Received 19, 10.55 a.m.) WASHINGTON, April 18. President Roosevelt to-day took over the problem presented by the Congressional sentiment for currency inflation.