The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-09-11
BY w. II. ATKINS.

WASHINGTON-Uncle Sans poe
kets bulge with gold. He has
almost corner" on the worlds
supply. Treasury reports recently
showed more than $4,000, 900, 900 or
one-third of the entire stock of the
precious metal on the entire globe,
Is on American soil
with this enormous stock of gold
gold In our possession the truth Is
dawning that we have more gold
than IL good for us If, as nation,
we want to maintain the integrity
OF the gold standard. Financiers
are disturbed Government fiscal
eXperAs say that the powerful poGi
tion OF the America ndollsr in in
ternational exchange is draining
other countries of gold and 1t is
flowing to America to pay for mer-
chandise.
Comptroller Of the Currency
Crissinger, giving the results of an
exhaustive study OF the situation,
said today that this great stream of
gold actually threatened us with
gold initiation
"Morc Than We Need"
Here is how the comptroller views
the matter:
we are accumulatinG more gold
than we need. other countries, by
sending us their gold are weakening
their power to uphold the gold
standard The senders Of this gold
in large volume also lessen their
ability to maintain an assured ratio
OF exchange and to buy whatSthey
need to use and we need to SELL
Earlier ideas of American finan-
ciegs about the problem of exchange
have undergone radical change
since the great war. Until the war
upset all previous systems a move
ment OF gold in one direction and OF
products in the opposite direction
was accepted as assurance Of sub
stantiai stability In the relations OF
currencics.
There is not AT this time a COM
pensating movement of goods from
America to the countries which are
sending us their gold.
Fiscal experts continue To note
the lack of freedom in commercial
interchanges. in normal times
such interchanges were great
equalizer and levcler in matters OF
international financing,
Gold standard Threatened.
Government officials who are
closest Students Of the problem said
that the United states will he COM
PEELED 70 move along some line that
may bring about exchange stablliza-
ton, or run the risk of seeing the
gold standard Rravcly impaired.
Going back a few decades officials
recalled that after our civil war our
own currency wNs impaired because
OF paper Initiation other countries
had drawn out large part Of Amer
ica's gold Thereby the Currencics
of foreign countries were moro
firmly established At that period
striking demonstration Of Americas
economic capacity was shown by re-
sumption OF specie payments soon
after tho end OF tho war. Now the
situation is reversed. Instead Of
suffering from n drought Of gold
we are Inconvenience by an over
supply, as relates TO our ability 30
maintain International trade con-
nections, which are logically Amori-
can.
There are some advocates Of tho
creation OF an international cur
rency medium for purposes OF inter
national trade. There are also many
opponents to such n plan. Many
American leaders believe that such
plan would operate TO the disad-
vantage of America in the end.
United States Should Cooperate.
Others, however, contend that, |
with other foreign powers discrimi- F.
mating against the United States for
the reason that American money is
so much more expensive than theirs .
the United Sattcs should become n /
participant in some international .
scheme to stabilize exchange.
American business Is vitaly af- |
fected by any plan that viii stabilize /
exchange American manufacturers /.
are seeing contracts go to the ma /
tionals n other countries having .
lower currency values. 1t is now