CURRENCY EXPANSION

Northern Advocate, 18 April 1933, Page 5

CURRENCY EXPANSION

FAVOURABLE SENTIMENT I GAINS GROUND IN AMERICA; ~ SILVER REMONITIZATION. {United Press Association—By Electric Telegraph.—Copyright.) (Received 11 a.m.) WASHINGTON,- Afril 17. There is a strong sentiment throughout the country for's'ome degree of inflation, and an Illinois Democrat states that the .sentiment is rapidly crystaHia.ing in the House of Representatives for it,

“I prefer silver,’ ’ he said. “I anl x an irreconcilable, Byran, dG-to-onc man. The trouble about it is that the silver. advocates can’t. agree bn any oho plan.’’

Tile Speaker/Mr W. H. Rainey, said

that die had not 'discussed the fcmonttiC : atiou of silver with President Roosevelt and clid not know the Administratiou'-’s attitude. He would not take the- initiative to press for silver legislation, - ,; adding that he would leave it to fee " President,

“I think the United States can go U ahead on a plan to repionetise silver without agreement .. with Britain and. France; ’ ’ he said, ‘ ‘ but it would-be"bet - ter if we can get the concurrency Vf those countries. .Wc will 'know./wbat ; they think about it within the next .. week or ten days.’’ Speaker’s Views'. Air Rainey had previously ,sa,id: --it a press conference that die personally . * favoured some expansion of the Hhitpil . States currency, and .preferred,,that: it . S should be undertaken;oni.theremorietU sation of silver. : " s ■ - Senator Wheeler ; 1 (DendqCrht,' , : tana) brought the coming world economic conferencir iiitof in the O ■ inflation debate- yon-Monday and said- ~V. that he did not, believe Britain:would; agree to remonetise'silver because she 1 had a trade advantage over: America - v ;ahd wanted to keep it, : " i: ‘ “Why should she I ?’’ Mr Wheeler shouted. “ They want to keep us oil ■ the gold standard. We have never lost a war and never won a conference. One ■ . thing Britain, is interested in is cutting - ‘ down the debt she : owes’America.'''She is not going to permit the' ’ dollar to be unless we cut; .. . those debts,’.’. . ..

Senator Borah spoke’ ‘on behalf of .currency inflation. declaring.that jt-was. the only ,hope of aidingjthe iaxnmr v a,n3 raising commodity prieesl . c . rr .