Salt Lake Telegram | 1933-09-20 | Page 1 | World-Wide Inflation Bringing Gold to $40, Forecast by Sen. Pittman

World-Wide World Inflation Bringing Gold To 40 Set Pittman By LYLE C. C WILSON United Press Staff Correspondent I WASHINGTON Sept 20 20 World World Worldwide wide inflation which would double the he prewar price of ot gold was predicted predict predict- ed today by Senator Pittman Dem Nevada as the eventual result of existing international conditions Pittman said he believed the international inter national price for gold finally would reach 40 an ounce to be stabilized at approximately that figure The standard gold price was 2067 an ounce before the war began unsettling unset unset- ling tUng the world Recent developments developments develop develop- ments meats especially abandonment of the gold standard by the United States have forced the world market higher Since this government began permitting permitting permitting per per- sale of ot newly mined gold at prices rices la in excess of ot the normal rate the he daily treasury figures have been gradually increasing The gold price prevailing in the United States yes yes- esterday es erday for foro newly mined gold was just short of ot the level foreseen by Pittman The Nevada senator Is urging the administration Immediately to begin coinage of domestic silver Ten days ago he presented to President Roosevelt Roosevelt Roosevelt Roose Roose- velt a 11 brief nr arguing first that his silver plan would be legal under emergency emer emer- gency jency authority granted Mr Roosevelt Roose Roos velt and second that It would be desirable 14 y Pittman spent the hours with president yesterday and loft left the White House expressing satisfaction that Mr Roosevelt had been interest interest- interested ed cd and examined his brief Pittman told the United Press today today today to to- day that he believed the United States should limit Itself for the tho time being to dealing with the domestic silver question leaving the problem of international for some future futuro date