Show DEBT DET PLAN FOR OR SILVER BACKED I I Scheme Does Not Interfere With Monetary System Young Explains The chief reason that tat eastern easter business business busi busl- ness nes men are ara interested in i the war debt payment plan for stabilization of or silver siver is that it i does docs not interfere with wih the present monetary system of the United States based upon gold cold A. A B. B Young Salt Lake Lalee Le metallurgist said Saturday in i reviewing a speech ch delivered de dc- delivered de- de livered Friday before the mining committee of the chamber of com corn merce I Opinion in congress regarding so solution soI solution so- so I lution luton of the Ule silver siver problem is i still sti I far from crystallized Mr Young said In the senate there does not seem to be as much coordination of ideas as might be desired and it i is the opinion of leading senators friendly friedly friend friend- fried fried- ly to the silver siver question queston that it i may take ake considerable time before the te solution so- so ution lution luton is finally naly arrived at FOR FORMING NUCLEUS In the house a nucleus is being formed around the Somers committee commit- commit tee ee which will wi probably be much more effective in obtaining sound action acton quickly We now see the development of two schools choos of thought thought First the school which desires to effect so- so called caled bimetallism without fixed raio rato ra- ra tb to io of the valuation between silver siver siverand and gold and secondly the school of thought that believes that the function ion tion ton of silver siver in the economic scheme of things requires primarily the idea of fixity of price of one metal in terms of the other ADVANCE THEORIES The first frt school in advancing the idea dea of what might be called caled a floating floating float float- oat oat- ig ing ratio rato does so in order to overcome overcome overcome over over- come the operation of ot Gresham's law aw The Te second school believing as a it docs does that if the fixity of value between the thc two metals is i sacrificed the he great advantage of ot using silvers silveris silver siver is s also sacrificed is represented by the he group that thai believes in the so- so called caled war ar debt payment plan in which they offer ofer as an a to the operation of the Gresham law the vast reservoir of international debt far larger arger than the worlds world's total supply of silver siver as a sink sik hole to absorb dis- dis brought about by the operations operations oper oper- of this lavI lawI lawI law lav I have found round that thai our eastern easter business sections are arc much interested interest- interest ed d in i the latter plan because first fixed stabilization can be acquired without the expansion or inflation of United States currency and second it t can be accomplished relatively quickly because it requires only the action acton of our own government to initiate the plan |