SILVER CURRENCY.

Waikato Times, Volume 113, Issue 18951, 22 May 1933, Page 7

SILVER CURRENCY.

ITS REHABILITATION URGED. PRICE SHOULD BE STABILISED, FREE MOVEMENT ADVOCATED. United Press Assn. —Eiec. Tel. Copyright WASHINGTON, May 19. Senator Pittman, chairman of the State Foreign Relations Committee and a member of the United States delegation to the London Economic Conference, to-day advocated the rehabilitation of silver, on which, he said, all nations with which the United States had discussed the subject In international conversations here were in agreement. He declared that the price of silver, should he raised and substantially stabilised, but no specific price was mentioned, although it was unofficially placed at GO cents an ounce. It was also proposed that the Governments should agree to abandon the policy and practice of debasing silver, and that restoration of debased coins be brought about as rapidly as is practicable; also that tariffs and other obstructions to the free movement of silver should be lowered oif eliminated.

IMPORTANCE TO THE EAST.

UNITED STATES AND CHINA.

JOINT STATEMENT ISSUED,

WASHINGTON, May 10

A joint statement, Issued to-day by Mr Roosevelt and Mr T. V. Soong, Chinese Minister of Finance, said the two were in agreement on the measures to be taken to solve world problems, and that it was considered “essential that the price of silver, which was the great medium of exchange of the East, should be ea* hanced and •stabilised.”