Salt Lake Telegram | 1933-04-28 | Page 9 | Silver Leader Desires Ratio Set at 16 to 1

SILVER LEADER DESIRES RATIO SET AT 16 TO 1 Worlds World's Cold Gold Total Far Too Low to Meet Needs Says I By Dy S SHELBY ELBY THOMPSON Associated Press Staff Writer DENVER April Charles 28 S S. Thomas old year fighter in behalf of silver former governor of Colorado Colo Cob Colorado rado and United States senator for eight years cars hopes President Roosevelt Roosevelt Roose Roose- velt if given the power will set the coinage ratio of the white metal at 1 to 16 with gold If silver is maintained near its natural and h historic ratio of 15 2 1 units to 1 l' l unit of ot gold the thing we have striven for or more than a half hall century will be achieved the dean of ot the nations nation's bimetallists said The president however may make it 25 to 1 I or even cven higher If he does were we're licked again just as we have been for the past sixty years C. C Upon what the president does J if congress congress con con- gress places the thc decision in his hands will hinge the hopes of the bimetallists for tor achievement of of- an ideal Thomas tells why of silver would be a good thing Since the panic the world has burled two thirds of ot its gold where nations M that dont don't now how hold it can never r a get a dollar The United States has 4 2 1 billions bit bib lions in gold France has 3 3 4 3 4 3 billions and Great Britain Canada t Italy Japan and a f few w others the remainder All are afraid as we are w. w and ind as determined to hang on to it How Row can it do the work w rk of the world c. c To show how little actually t is the world owes publicly or privately privately for every dollars dollar's worth In jn other words there are arc 13 billion billionI I dollars worth of gold metal and billion dollars in debts against it Why interest at only 5 per cent on ont t the worlds world's liabilities is equal to three times its its' gold I I dont don't mean mea to say that silver r- r will do more than double double dou dou- ble the amount of precious metal reI reserve reserve re re- re- re I serve urve because theres there's only that much l I silver lver available It would however 1 be of tremendous value in loosening r up the economic situation I Thomas omas dislikes the pending action jt of congress shifting to the president r the duty of determining silvers silver's ratio f. f In event of Delegation of ot powers of one branch of ot government to another is a dangerous thing he declares