Price of Silver

Wanganui Chronicle, Volume 74, Issue 139, 15 June 1931, Page 7

Price of Silver

BRITISH ACTION ATTACKED AMERICAN SENATOR’S VIEWS [By Telegraph—Press Association—Copy right. J Received June 14, 11.45 p.m. WASHINGTON June 14. The State Department was said ou Saturday by Senator King, Democrat of Utah, to have received unfavourably a suggestion tnat it request Britain to stop the sale of silver at a lesser price than 50 cents an ounce until after an international silver conference. Senator King, who urged the remon itizatim of silver throughout the world, expressed confidence that such a conference would bv called were such a request made and Britain acquiesced. Hv contended that Canada, Mexico, and the United States would join her and silver would be maitained at that price. Senator King deprecated the action of Britain in dumping Indian silver upon the market ai d said that this was largely responsible for the ”apid decline in price during the past two years. If England persisted in the policy of du’mping additional silver upon the markets, a further decline would follow. He said that an effort was being made to prevent an international conference being called. President Hoover, Senator King said, had indicated that ho would not call a conference because of the opposition of some countries. People in Canada “do not support the views of the British Government,” said Senator King. He was certain -hat Canada would attend if such a conference were called.