Salt Lake Telegram | 1934-05-23 | Page 1 | Quick Action Forecast on Silver Bill

QUick ACTION I FORECAST ON SILVER BILL BILL- Measure Will Be Taken Up by Senate on Monday King Announces MINIMIZES BLOC SPLIT Declares Proposal Not of In Inflationary Inflationary In- In Type By fly y CHARLES O. O GRIDLEY Tele Telegram Washington Correspondent W WASHINGTON May 23 With 23 With a 41 margin of ot votes in the house predIcted predicted pre pro for tor the presidents president's silver billay bill by ay by leaders of the silver bloc in that thai body early passage of the measure by both houses was in prospect today Financial Nudists A ATLANTIC CITY N. N J. J May 23 UP UP America soon may become a nation of financial nudists Joseph E. E Hill president president dent told the Pennsylvania Bankers' Bankers association today The monetary system is like the wind he said You hear bear the sound thereof but know not whence it comes or whither it goeth teeth The budget reminds me of ot the old axiom Cut your coat according to the cloth The budget coat appears to be en cn- entirely demolished They are arenow arenow arenow now removing the pants We soon may be a nation of financial finan cial nudists Senator William ItKin of Utah announced an sri- that it will be taken up in Ill inthe inthe the senate Monda Monday substituted forthe for forthe forthe the pending Dies bill and acted upon quickly King and other supporters of or silver in the senate are anxious that the bill bil pass paS the upper ho house e first though in order to accomplish that they must omit those sections concerning taxes and appropriations required by law to ta originate in the house They wilbe will wil willbe willbe be replaced in conference however An apparent split in the ranks rank of the silver sliver advocates yesterday when the inflationary wing ving of ol the group which is led by Senator Elmer Thomas Thornas Thom Thom- as of Oklahoma assailed the administration admin admin- bill as a hollow promise was minimized by b Senator King We did not expect this bill to please those whose primary Interest t is inflation of the currency he said It is not inflationary in any sense and any assertion that the treasury department at any time opposed its provisions is incorrect The disagreement was among th the favoring silver sliver in order to restore it to the status of ot primary ry money and those who were for silver as a means of inflation The presidents president's bill is a wise wi farseeing farseeing far far- seeing piece of legislation which will wil Continued on Page Paie Two SPEEDY SILVER ACTION SEEN I II I King Minimizes Split in Western Bloc Blo Over I Legislation Continued tram from P One do practically every everything thine for silver that tha can be done by la lawIt law It points the way to in international bimetallism it eventually assures the monetary value price of for new silver which will revive western mining and it restores silver to the position of primary money in our currency system which it is entitled en entitled titled to House leaders expressed similar views asserting the bill will pass with overwhelming Democratic support and that Democratic defections detections willbe will willbe willbe be made up by Republicans The parliamentary situation In the senate is highly advantageous to the bill since it m makes possible the avoidance avoid ance of protracted committee hearIngs hearings hearings hear hear- ings at which the would attempt to revise the sections of ot the bill regarding currency issue As the Dies bill bUl placing a premium on foreign foreign for for- eign silver paid for American farm products has already been favorably reported the administration measure can be offered as a substitute Its adoption is conceded and the Dies bill never popular with western members will be discarded at the same time