THE PRICE OF SILVER.

New Zealand Herald, Volume LXVIII, Issue 21049, 7 December 1931, Page 9

THE PRICE OF SILVER.

STABILISATION PLANS. PRODUCERS AND INDIA. : • EFFORTS IN AMERICA. By Telegraph—Press Association—Copyright. (Received December 6, 5.5 p.m.) WASHINGTON, Dec, 5. Mr. Silas H. Strawn, president of the United States Chamber of Commerce, announced at Spokane that plans had been prepared for an export sales agreement between the United States silver producers and the Government of India to increase the price of silver. Mr. Strawn told the Western Division Convention of the United States Chamber of Commerce that the plans were worked out by a committee of experts of the International Chamber of Commerce and would bo submitted to the council of the International Chamber whfn it meets at Paris on March 1. * He intimated that he expected favourable action at Paris with an agreement by the. United States silver producers and the Government of India. Mr. K. Pittman, a Democrat member of the Senate for Nevada, sent a telegram to the president of the Silver Association of the United States at Spokane that an agreement between the silver producers and India for stabilising the price of silver was impossible of accomplishment. Stabilisation could be achieved only through international agreement to stop debasing or melting circulating silver coin.