AMERICA’S NEED
INFLATION OF CURRENCY. I 1 TO AID FARM EMPLOYMENT. (United Press Association—By/ ElectricTelegraph—Copyright.) WASHINGTON, July 6. The United States Congress was reconvened to-day after the holiday recess. Senatorv Borah, in a statement, declared they- must either immediately pass laws expanding their currency, and further extending credit, or else must return in the a-utumn, when'they would be facing the proposition of the devaluating dollar. He said that deflation was still advancing? and that inflation was necessary to relieve agricultural employment. He declared : "We have sufficient gold to justity, upon a sound basis, a currency expansion. to an extent of billions of dollars,.; if necessary. We have more than one third of all of the gold in the world, hut i.t is hidden and hoarded, refusing any help in this great national crisis, and the country is left paralysed.”
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Hokitika Guardian, 7 July 1932, Page 5
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139AMERICA’S NEED Hokitika Guardian, 7 July 1932, Page 5
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