The Washington times., 1923-03-12
To BEGIN Sill YER
| HEARINGS IN
/ APRIL
Senate Commission to lnvesti-
gate Cause Of Decrease IN
Production Of Metal.
BY HARRY GUSACK.

Hearings connected with the pro-
ducti0n OF gold and silver by spe-
cial Senate committee will begin In
Washington during next month. &c.
cpading to present plans 0f the com.
nnittee, II was stated today.
Members Of the commission are
Senators Nicholson Of Colorado,
chairman; Oddie of Nevada, and
Gooding Of Idaho. Republicans, and
Walsh Of Montana and Pittman o.
Nevada, Democrats.
Senator Walsh believes there il
occasion for serious alarm in con.
nection with the silver situation.
ssEilver, that precious metal, basis
az coins the world over Tor oenr
turtles, Is fighting q battle for ex-
istence,, y said senator walsh. s.The
American market IL Oversupplied.
EUROPE Is either casting Il aside
or, what Ii worse. debasing IL, and
four London brokers are absolutely
fixing its world value based on the
demand In China and India.
American mining industries, its
greatest producers, declare that the
Law OF supply has been ignored In
the price fixing and, alarmed at the
approaehing termination OF the Pitt
man act, providing for purchase az
the metal. by the GOVernmeHt to
maintain the TFeasuFy's balance,
have appealed to Congress for legis.
lakt0n to save the industry.
Even the American silver dollar.
which has retained It's purity, de-
splte the upheaVal Ia Europe, u stu
"a danger. u II declared in this ap-
peal, which points out the demOraliE-
ing effect which resulted several
years ago when the price Of bullion
exceeded the value as = coin
while the resolution authorizing
the Investigation refers To both gold
and silver, II Ii the expectation that
the atteDti0n Of the commission viii
~ conferred chiefly upon the situa.
ton which will confront the silver
industry when the Government some
time next tall ceases the purchase nj
silver ut 3 fixed price under the
terms of the PittInan act. The com.
mission also viii deal to some extent
with 3 condition which the gOid-pro.
dllcing industry has faced SINCE costs
Of production greatly increased With
out any corresponding boost IN the
amount obtained hy ttle producer.
Postal Receipts Drop.
February postal recelpts frena
Gkty SDteGIea cities, I0IAlingt t&3,e
O82. 496, did not equal the high naarIE
III January. but kept pace with q
total Increase over February, 1922.
Of 1913 per cent. the Postoffiee De
paEtment announced. This Is
greater percentage increase than has
been shown for the same month in
any year since 1918, when the re.
ceipts were 1890 per cent greater
than n February Of the previous
year.
East, Middle West, Texas, ana the
Ear Vest are represented BY the
cities showing greatest increases.
eight Of which report receipts more
than 20 per cent greater than the
same month last year. Fort Worth
again leads, with an increase OF 1901
Per cent. The total income for the
month was $2lD,789.S6. Another
Texas city, Dallas was second. with
. reported total Of $253,S13.46. an
increase Of SO.4T per cent. Akron.
Obt0. third, e9.40 per cent, with 4
total Of $s6.862.5S; Jersey City, n. j..
fourth, BATS per cent, with q total of
$SS,0f7.20; New Haven. Conn, fifth.