The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1923-02-08
TO AMEND SILVER BILL
BY SENATOR NICHOLSON
BROADEN INQUIRY WHICH MAY
INCLUDE GOLD - WIT
NESSES HEARD.

SOme dlleIdllOnS III tne measure ~
Originally introduced, and IL is prob
liable that Senator Nicholson will in
ltroduce an amended bill. so that the
Inquiry may be undertaken exactly as
that made for the agricultural situa
ton. The successful outcome of the
agricultural inquiry makes that a
popular precedent to follow, says the
Washington correspondent of the En-
cheering and Mining Journal Press.
Since the hearings on the Nichol-
son bill began. it has become more
and more apparent that difficulties
would be encountered were the COM
mission for which the bill provides to
include members other than those
selected from the two houses of con-
gress
Include Study of Gold.
The suggestion has come to the
committee from a number of quarters
that the inquiry should include a
study of gold. Gold and silver are so
inter related that there could be no
research into the currency status of
silver without considering the none
tary status of gold In addition TO
the fact that it would be difficult to
divorce the two metals in such an in
vestigatiOn as is proposed. there Is
the important reason that gold also is
facing a real crisis. Sight has not
been lost during the hearings. how
ever, of the fact that there are great
N1snra Of
the producers of the precious metals.
The Nicholson bill in its original
form, proposed an approach to for
eign countries. To avoid any possi-
BILE misinterpretation of the activities
of the committee, it is probable that
this portion of the bill will be altered.
Witnesses who appeared before the
committee presented the opinions and
conclusions of both the producers and
the smelters. In addition, much was
said in behalf of those who are con-
cerned with gold and silver from the
financial standpoint only. Among
those who testified were +. Fl. Brow
nell. J. F. Callbreath. Ravenel Mac
beth and Sidney Jennings.
Price Of Silver and Other Prices.
The last witness called by the COM
mittee was II. n. Lawrie, of the Am
erican Gold and Silver Institute. He
presented monthly price curves from
1912 to 1921 for wheat cotton and |
silver. These curves show the simil-
arity between the exchange value. Of |
silver and the prices of agricultural
products. Mr. Lawrie stressed the /
profound influence which the subject
has on the agricultural industry and
IN our export trade. He presented
with Grosvenor NJ.
Zones the chief of the finance and
Investment division of the bureau O.
oreign and domestic commerce, to
Indicate the bearing that the subject
las on trade and on industry in gen
raj.
MIR. Iawrie also presented data with \
egard to the reserve and currency
lses of gold and silver in foreign
since 1918 He suggested
hat inquiry should be made as to
whether or not a reserve demand for
liver can not be created in European
countries, so that they may restore
heir gold standards and increase
heir purchasing power in the Ameri-
an market.
The point also was brought up as to
he need for extending government
redit facilities to the producers of
liver TO the same extent they have
,een extended to farmers. Mr.. Law
lie contended it is especially import
mt to the country as whole to have
liver marketed in an orderly way.
lie discussed the application of the
xport -association idea to silver. The :
Material on that subject which has {
,een published in the Engineering and '
lining Journal Press was made
art of the official record.