FOOD SHORTAGE

Taranaki Daily News, 26 April 1935, Page 5

FOOD SHORTAGE

SPECULATORS’ HOPE WHEAT, BARLEY AND RICE COMMODITY PRICE RISE SPECULATION IN SILVER CAPITAL NOT EMPLOYED By Telegraph—Press Assn— Copyright. Rec. 1.30 a.m. London, April 25. “The present speculative movement is due to the great volume of money unemployed throughout the world,” says the city editor of the Daily Express commenting on the rise in silver. “The first evidence was seen in shellac and pepper. Now silver has taken up the movement. It may spread at any time to other commodities. “Speculators predict big rise gains. They say there will be a shortage of wheat, barley, maize and rice,” The movement in silver has raised the value of world stocks from the low level of about £380,000,000 to nearly £900,000,000. Speculators had another big drive on silver on Tuesday, the price reaching 32 3-Bd, the highest since 1925, says the Daily Telegraph’s*'- financial editor, who says the swing-up is due to the United States adhering to a 25 per cent, silver backing for its currency. Washington could defeat the speculators if it revalued silver as it did gold.