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Salt Lake Telegram | 1932-09-03 | Page 1 | Ferry Lays World Ills upon Gold

Type issue
Date 1932-09-03
Paper Salt Lake Telegram
Language eng
City Salt Lake City
County Salt Lake
Rights No Copyright - United States (NoC-US)
Publisher Digitized by J. Willard Marriott Library, University of Utah
ARK ark:/87278/s60k3hms
Reference URL https://newspapers.lib.utah.edu/ark:/87278/s60k3hms

Page Metadata

Article Title Ferry Lays World Ills upon Gold
Type article
Date 1932-09-03
Paper Salt Lake Telegram
Language eng
City Salt Lake City
County Salt Lake
Page 1
OCR Text FERRY LAYS LAYS' WORLD ILLS ILL'S UPON GOLD Declares Available Supply In Insufficient Insufficient Insufficient In- In sufficient to Support Credit Structure HITS BUT ION Blames Fall in Silver for Economic Economic Eco Eco- Troubles Sn n Br Associated Press COLORADO SPRINGS Colo Sept 3 W. P-W. W. W Mont Ferry of Salt Lake advocate of ot addressing the he intermountain economic conference conference confer confer- ence here today said the available supply of gold in iii the world was insufficient insufficient in in- sufficient to support the credit structure structure structure ture and that prices have fallen disastrously disastrously dis dis- dis because of the rising value of the gold dollar All investigators agree that the money noncy and credit structures have broken down he said The machine failed ailed to function at the moment o of 01 crisis There is about of ot gold money in the world The private corporate and government debts in the world arc are beyond com corn Well informed quarters believe these debts amount to the staggering sum of Whatever they are they rest upon the he basis of gold dollars plus lus the psychological factor of con con- Furthermore comparatively recent recent re re- re cent international movements of gold golc hl resulted e 1 In n of the he yellow metal The United States state and France control about 70 per cent of this gold while the rest of the world with more than 1750 million people is struggling along with th the remaining 30 per cent of ot silver anc and dumping lumping on the world markets o or of ounces of ot the thc white metal destroying the buying power of more than ban half hall of ot the population of the world which use silver for money contributed to idle factories idle shippIng hipping and unproductive farms and orchards he said
Reference URL https://newspapers.lib.utah.edu/ark:/87278/s60k3hms/16161877