THE PRICE OF SILVER

Otago Daily Times, Issue 21361, 15 June 1931, Page 7

THE PRICE OF SILVER

PROPOSED CONFERENCE , NOT LIKELY TO EVENTUATE. i . - :Zj ■ ■ / * ' WASHINGTON, June 13. (Received June 14, at W. 50 p.m.) Senator King. (Democrat, Utah) states that the State Department on Saturday received unfavourably a suggestion that Britain should be requested to stop the sale of silver at less than 50 cents an ounce until after an international silver conference had been held. Senator King, who urged the remonetisation of silver through the world, expressed confidence that such a conference would be called were such a request made, and if Britain acquiesced he contended that Canada, Mexico,/ and the United States would join her, and silver would be maintained at that price. He contended that the action of Britain in ; dumping/Indian silver upon the market 0y : . 'was largely responsible for the rapid decline in price during the past two Hftj.years. ‘fjf England persists in her jjfi policy of dumping additional silver upon gfv'the markets a further decline will j follow,” he said, adding that an effort ■s. ' was now, being made to prevent the holdY-, ing of an international conference because of opposition from some countries. ; The people of Canada “ do not support the views of the British Government,” and-it was certain that Canada would •ttend if such a conference were called.