SILVER PROBLEM

Southland Times, Issue 21420, 15 June 1931, Page 7

SILVER PROBLEM

BRITAIN ATTACKED DUMPING IN AMERICA SENATOR KING’S STATEMENT (United Press Assn.—By Telegraph—Copyright.; (Rec. 11.10 p.m.) Washington, June 14. The State Department was said on Saturday by Senator King, of Utah (Democrat) to have received unfavourably the suggestion that it should request Britain to stop the sale of silver at, less than fifty cents an ounce until after an international silver conference. Senator King, who urged the remonitization of silver throughout the world, expressed confidence that such a conference would be called were such a request made and Britain acquiesced. He contended that Canada, Mexico and the United States would join her and silver could be maintained at that price. 1 ' The Senator charged the action of Britain in dumping Indian silver upon the market as being largely responsible for the rapid decline in price in the past two years. "If England, persists in her policy of dumping additional silver upon the market a further decline will follow,” he said, adding that an effort was now being made to prevent the international conference being called. “President Hoover,” Senator King added, “has indicated that he will; not call the conference because of the opposition of some countries.” The people of Canada “do not support the views of the British Government.” It was certain that Canada would attend if such a conference were called.