Salt Lake Telegram | 1933-06-16 | Page 1 | Broker Makes Silver Plea

BROKER MAKES SILVER PLEA Stabilization of White Metal Meta Will Be Benefit to All All AllBa Ba Bankers Told Special to The Telegram O OGDEN DEN June 16 A 16 A pl plea a for lor the stabilization of f silver to improve Ve in industry In In- agriculture and labor was i imade made today before the twenty- twenty I fifth annual convention of the Utah I Bankers Bankers' association in the Hot Hotel Ben BenLomond Lomond by J. J J. J Beeson vice president dent and general manager of at the Park City Consolidated Mines company com comi pa pany r ci- ci i. Mr BeR Beeson stressed stressed the t fact that that thai while of the white metal would be advantageous to silver silver silver sil sil- sil- sil ver prod producers cers such advantages es would as compared to the benefits to be derived In every field of j endeavor One ot the major contributing fac- fac factors actors ac- ac tors ors to the intensity of the depression in n the United States the speaker declared de de- dared was the policy of at the Hoover administration to keep up the price of ot the American gold dollar by main maintaining taming the gold standard Maintenance of ot the tha gold standard he ic said regardless of the cost to the American citizen seemed to be ar m obsession and we wc were forewarned of th the instability and chaos that would result if it we abandoned this seemIngly sacred ac ed standard Through the thc courage of President Roosevelt and his advisors the abandonment abandonment aban- aban of ot the gold standard ria has now been nc accomplished and instead of ot a a panic anic there has has' been a rapid imin im- im provement in the price of at securities generally an casing easing in credit and anda a 3 decrease in unemployment Mr Beeson traced the depreciation in n the price of silver to 1926 when the he royal currency commission recommended mended that India adopt the gold goldstand stand standard This he asserted marked the he beginning of the manipulation of ot exchange with silver-moneyed silver countries coun- coun tries and was destined to be one of ff the contributing factors to the decline in commodity prices throughout ut the United States