CURE FOR DEPRESSION

Poverty Bay Herald, Volume LIX, Issue 17949, 29 November 1932, Page 5

CURE FOR DEPRESSION

CHEAPENING THE DOLLAR BORAH’S PROPOSALS NEW YORK, Oct. 13. Senator Borah, who declined to join in President Hoovet’s election campaign, is making speeches in the West criticising both Republicans and Democrats for supporting excessive expenditures of public money, and advocating currency inflation as the only way to raise ihc prices of commodities. While he lias not actually proposed abandoning the gold standard or issuing flat money, he lias said in effect that the only hope for a rise in the prices of commodities is to reduce the gold value of the dollar. He is making this declaration without any feeling, apparently, that it conflicts with his earlier declaration that a rise in tho prices of commodities could not be brought about except by a restoration of world markets which lmd: been destroyed. Senator Wheeler, of Montana, who is supporting Governor Roosevelt for the Presidency, agrees with Senator Borah that the dollar must be cheapened, but his way of doing it is to “draw upon silver.”