Evening star. [volume] (Washington, D.C.) 1854-1972, 1932-03-23
u. S. SOUNDS EIGHT
NATIONS ON SILVER;
BARUCH FOR FARLEY
Continued From First Page.)

| Continued From F1rsC FaBel
Banoue de Paris and Des Pays, ant
| ,Joseph Caillaux, Chamber OF Deputies
France: Sir Herbert S. Holt, president
| of the Royal Bank Of Canada; Angus
| tin Iegorretta, general manager OF tn'
! Banco Nacional de Mexico, and Alberto
j. PAM, minister of finance, Mexico
Hans Luther, president OF the Reichs-
hank Germany; Sir Osborne A. Smith
governor of the Imperial Bank OF India
Tsuvi Pei. manager of the Bank Of
China. and Prof Gustav Cassel OF the
University of Stockholm, Sweden.
Other Views Asked.
The attitude of numerous American
financiers, including S. Parker Gilbert,
Otto H. Kahn and owen D. Young,
also was asked.
The letters, sent as a part OF the
special silver investigation ordered by
the House. asked suggestions OK ways
to boost silver prices as well as busl-
ness generally They inclosed copies
of a preliminary statement made by the
committee February rs, before 1t began
hearing on the silver question.
This statement expressed the opinion
that since the silver problem Is inter-
national in scope, 1t seems 1t can best
be solved by international cooperation,
but whether this cooperation Is pos
sible at this time Is question that
must be determined"
ut appears desirable that reason
able relationship should be established
between gold and silver" the statement
said, but this does not mean that
these two metals should be placed upon
the normal production ratio, nor Is BIZ
metalism envisaged.
ITO all appearances there Is no other
way of restoring world values except
by giving a general validity to the pur-
chasing medium Of the East, since that
part of the globe embraces more than
so per cent Of the people OF the world
Urgency Pointed Out.
Unless international trade is re-
vived, 1t is not possible for this or any
other nation to continue developing 1t!
natural resources and producing II
wares. Therefore, the urgency OF I'M
mediate action in this respect is ap
| parent to all.
Unemployment, international obi
cations, tariffs and budget deficiencies
the problems which face every parlla'
mentary body in the world, are per
plexities that can never be solved unit
monetary equilibrium is restored, anc
as long as the ability to exchange the
fruits Of our labor is non-existent, the
problem of one having too much anc
the other too little will be with u
forever"
1t has been recommended by some
witnesses in the committees hearings
that tri-party agreement among Can
ada, Mexico and the United States to
Yrn61lNnA in North
America would bolster its price.
Several others have proposed that
silver-as we'll as gold-be used as a
part of the reserve held by gold stand
ard countries against paper money.
Some bankers told the committee
that while England a year ago would
have opposed such conference they
thought the changing situation had
brought a more favorable attitude or
the part of the British.
May Call Kemmerer.
Meanwhile the suggestion that Prof
Edwin w. Kemmere- OF Princeton Uni
versity be called into conference with
Government officials on the cause Of the
depreciation of silver was made to Presi-
dent Hoover by Representative Perkins
Republican, New Jersey.
The prospect that Kemmerer might
be brought into such discussions at
tracted interest because of his promi-
hence as an arbitrator of the financial
difficulties in foreign nations. He was
an adviser to the commission which
wrote the Young plan of PREPARATIONS
has been called by several South Amer
lean countries to settle their monetary
difficulties and at one time acted in a
similar capacity In China.