Evening star., 1933-09-27
THOMAS PREDICTS
TURN TO INITIATION
Senator From Oklahoma,
However, Urges Biding
of Time.

Predicting that the administrations
credit expansion program would fail to
lift and stabilize prices and that the
President eventually would have to turn
to currency imitation, Senator Thomas
of Oklahoma is today urging inflation-
lists to bide their time.
His plan is to give the Roosevelt
credit expansion program full trial, be-
lieving that this may be the quickest
road to currency imitation. Senator
Thomas, will, he says, urge various
farm leaders who have come to Wash
ington to demand imitation, to quiet
down temporarily.
Senator Buckley of Ohio Democrat, a
member of the Banking and Currency
Committee, after a visit to the PreSl-
dent at the White House yesterday, said
that he did not think that imitation
through the issuance of Treasury notes
within modest limits would do any
harm.
Praises Roosevelt Course.
Bulkley, declining to indicate the
Chief Executives attitude, praised tne
Roosevelt course of expanding COM
mercial and banking credits and eX-
pressed the opinion that ultimately
we will come to fixing the gold content
of the dollar substantially lower than
the OLD g0lQ content.
Meanwhile, John A. Simpson, presl-
dent of the National Farmers Union,
in an open letter to President Roosevelt.
COPIES of which were sent to members
of Congress. called for remonetlzatlon
of silver and retirement OF bonds py
issuing Treasury notes.
Under the infationary power given
the President in the farm relief law,
Simpson told the Chief Executive. you
can kick the international bankers out
of the National Capital any day you
want to-"
Il think the international bankers
are responsible for the farm reilel
measure and the national recovery act,
Simpson wrote. 1T is their plan to
destroy you.
IT know the people are oVerWhelm-
ingly disappointed and disgusted with
the program for recovery. They sun
have confidence in you, but no falth
whatever in the program.
Thomas said that the President, IN
being against imitation, thinks the
proper way to bring us out of dlfhculties
is credit expansion"
$1,000, 900, 900 Federal Credit.
Federal credit made available to GATE,
the Oklahoman said, aggregated SILL
process of being borrowed to help us
out, and it hasn't done any good eX-
cept to postpone the evil day.
Believing that imitation of the cur
rency is the only remedy, While the
administration believes in initiating
credit" Thomas said, lit seems to me
wise policy to permit the administration
to test out its program.
ITO date, the promise, hope and
prospect for initiation has brought the
only relief the Nation has experienced
1t seems now to be wise for those who
favor imitation to cease their efforts
and admit there will be no imitation.
Let the Presidents credit policy work
out
The President will have to come to
imitation in the end. My recommended
ton for stopping the imitation cam
paign now, rather for Suspendlng 1t,
is really short cut to imitation be-
cause Mr.. Roosevelt will find it neces-
sary to initiate"
After a conference with Pr-sldent
Roosevelt on the money question yes
terday. Senator Bulkley. Democrat, OF
Ohio expressed the view that imitation
through the issuance of Treasury notes
within modest limits won't do any
harm"
Bulkley, a member of the Senate
Banking Committee, declined to com
municate to newspaper men President
Roosevelt's views on the currency PROB
lem, but praised the course the Chle1
Executive is following.