MR. BORAH SPEAKS
MONEY CONTROVERSY Reply to Mr. Warburg DOLLAR, GOLD AND SILVER By Telegraph—Press Assn.—Copyright WASHINGTON, November 30. Senator Borah again entered the monetary controversy to-day. He sharply answered Mr Warburg’s suggestion that the United States might co-operate with Britain in reinstituting a modernised and revised gold standard. He pointed out that British and American world trade interests were so conflicting that “the possibility, to say nothing of the desirability, of such conjunctive action with Britain is so remote at this time, as I see it, that it removes any proposal based upon that fact beyond the reaiin of practical consideration or discussion.”
Mr Borah chides Mr Warburg's failure to mention silver as a possible monetary base and suggests that tho Reconstruction Finance Corporation purchase silver as it does gold until it brings a price of 75 cents an ounce, then to have the dollar consist of an ounce of silver and 25 cents worth of gold.
Air Borah's statement has greatly encouraged the silver advocates in Congress to-day, who are now confident that they can pass some sort of legislation to remonetise silver.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/HBTRIB19331202.2.95
Bibliographic details
Hawke's Bay Tribune, Volume XXIII, Issue 300, 2 December 1933, Page 9
Word Count
185MR. BORAH SPEAKS Hawke's Bay Tribune, Volume XXIII, Issue 300, 2 December 1933, Page 9
Using This Item
NZME is the copyright owner for the Hawke's Bay Tribune. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in