Show rade rode Stagnation Charged to Failure Of Money Standards Relation 11 Between ang angola nging ing Values Seen Seeni od old Silver Poverty Cause Causer as ir i r- r i The call of the f The Note tors tor's committee for lor an h house C SS coinage conference on sil sil- focused attention anew b bu and gold goldIS goldas f s rec fer 01 of silver oa the problem world prosperity prosperity- IS as s they affect S of stories of of which the 12 Ks a aBerle series s the United Press first pt nt follows this problem traces its outlets and prose presents r en its s some of the solutions noes of it noW suggested by econom economists economists- j JOSEPH JOs WI II If BAIRD I gf Br riS Staff Correspondent Frus ress WASHL n May Man 17 Mann its Us Is for measuring standard n ids ds d's and toil have gone awry caus caus- The Thet and poverty sta stagnation on i trade fc thought of America t economic co E concentrated concentrated on the thee thet is t servant of silver sIlverIS the Gold Sold on once ce e or of its master The price IS beCome metal has dropped so low white hall world main halt half the t more nore than has suffered a Orient bas bas In buying power loss Joss eel ettS when the the days America In fl pock from traveled daily et to pocket have long since gone But ButIn ButIn Butin in many parts of the world world China China India Mexico for instance instance sliver silver silverIs Is still the ruling token of value Hence its rapid fall tAU from per ounce in 1919 1910 to less than 28 cents in 1931 has wrought havoc In world trade closed mines and caused suffering suffering suf fering and want SEEK STABILIZATION This situation has caused economists economists economists mists and officials to reexamine the fundamental bases of silver and gold goldas as measuring rods They are arc seeking a VR way to stabilize these measures to tomake tomake tomake make them less responsive to every caprice that affects other commod tics In prehistoric times It is said one I ounce of oC silver was worth 10 ounces of gold but in modern ages the yellow metal has always been the peer of the white There have been however drastic fluctuations in their relative value during the last century In 1835 sil sll ver vcr was worth per ounce Then with the winning of or the west and an Increasing demand for silver as pocket money from Kansas to California Cali forma fornia It rose even higher to In 1865 From that point it fell constantly constantly con con- until in 1916 it was worth only 51 cents But wartime Europe's vast trade with the Orient created a new demand for silver and it soared again reaching in 1919 Then It plunged to the lowest point of the last century century 27 8 78 cents In Jul July 1931 Since then it ha has recovered recovered ered Bred only a few cents ECONOMISTS BAFFLED What would silver be worth In terms of ot gold The question has baffled bat fled economists for decades If It the two metals followed the gen general al law of demand and supply their relative worth would seem to depend on their comparative scarcity y Taking the approximate 50 year 50 year pc nod dod 1881 to 1930 the world tion of gold was ounces and of silver ounces This would indicate a normal ratio of 12 to 1 between the two Yet such a ratio has been far from constant Officials can sec see no immediate prospect pros of silver being restored to its usual buying power as a result of natural economic forces Because of 01 this there is a growing demand both here and in Europe for international action to raise the price of silver by artificial means and thus restore the buying power of more than people not on the gold standard |