The Bridgeport times and evening farmer., 1921-08-31

Washington, Aug. 31-Uncle Sam's pockets bulge with gold. He has al- most a ''corner" on the worlds SUD- ply. Treasury reports recently show ed more than S3,000, 100000, or one third of the entire stock of precious metal on the entire globe. is on American soil.
 With this enormous stock of gold in our possession the truth is dawn ing that we have more gold than is good for us, if, as a nation, we want to maintain the integrity of the gold standard Financiers are disturbed. Government fiscal experts say that the powerful position of the American dollar in international exchange is draining other countries of gold and it is flowing to America to pay for merchandise.
 Comptroller of the Currency Cris- singer, giving the results Of an eX- haustive study of the situation, said today that this great stream of gold actually threatens us with gold in f1ation-'
 .sMore Than We Need.'' Here is how the comptroller views | the matter:
 eve are accumulatfng more gold | than we need. Other countries, by sending us their gold, are weakening their power to uphold the gold stand ard. The senders of this gold in large l volume also lessen their ability to maintain an assured ratio of exchange
 
 We need to sel1.''
 Earlier ideas of American finan- ciers about the problem of exchange have undergone radical change since | the great war. Until the war upset all previous systems a movement of gold in one direction and of products | in the opposite direction was accepted as assurance of substantial stability in~the relations of currencies. | There is not at this time a com pensating movement of goods from | America to the countries which are sending their gold.
 l Fiscal experts continue to note the | lack of freedom in comm ercial inter changes In normal times such in terchanges were a great equalizer anl leveler in matters of international | financing.
 | Gold Standard Threatened. l Government officials who are closest students of the problem said that the United States will be com | pelled to move along some line that may bring about exchange Stabiliza- ton, or run the risk of seeing the gold standard gravely impaired. Going back a few decades officials recalled that after our Civil War our own currency was impaired because of paper imitation. Other countries had drawn out a large part of Amer ica's gold. Thereby the currencie' of foreign countries were more firm ly established. At that period strik.
 
 economic capacity was shown by re sumption of specie payments soon at ter the end of the war. Now th' , situation Is reversed. Instead O f suffering from a drought of gold WI i are inconvenienced by an over-sup . ply, as relates to our ability to main tain international trade connections which are logically American.
 There are some advocates of tn creation of an international currenc. medium for purposes of internationa , trade. There are also many op v ponents to such a plan. Many Aneri = can, leaders believe that such plal , would operate to the disadvantage o = America in the end
 n U, s. Should Cooperate. s Others, however, contend that |, with other foreign powers diserimin n ating againSt the United States fo r the reason that American money t so much more expensive than theirs = the United States should become - participant in some fnternationa lscheme to stabilize exchange
 American business is vita1ly affect = ed by any plan that will stabilize ex p change American manufacturers ar = seeing contracts go to the national Q of other countries having lower cur iTency values. It Is now virtual