Show i I NATIONALIZATION i B By i Y the presidents president's proclamation n Thursday nationalizing na Da- na- na I silver the thc queenly metal moves I another enother step toward assuming its legitimate place in the monetary system alongside g gold ld The Tue ultimate goal of course is IS throughout the world at a ratio which will bcD be bc D based upon the relation of the total world stock of gold to the total world stoc stock of f silver This I is believed d to be somewhere In inthe the neighborhood neighbor neighbor- I I hood hood of 16 to 1 It will require a worldwide f r inventory of the two metals to establish the true figures So far the United States i ithe the only government govern govern- j ment ment moving definitely in this direction though j I the tile London silver agreement opened the door I for all other nations to enter upon a program t tI to eo I double the thc metallic base of all currencies currenCIes The The effect of nationalization cannot I ly appreciable in the thc western silver pro I states though the further progress to toi toward toward to- to i ward realization of the objectives of the silI silver sil sil- sil- sil I 1 Vcr ver er program is heartening to jo all who have 1 strived to gain complete recognition for the i metal World adoption of would restore re re- re- re tore store trade on Oil a scale he heretofore unknown Tile principal using silver-using coUntries coun coUn- countries tries would be able ble to CI enter ter upon g goods exchange exchange ex ex- change now nov impossible Technological progress progress ress in the last few ew decades has created a v vast st j number of new markets for raw materials and fabricated commodities Many any peoples living I in lands rich in natural resources but but- backward back back- f ward vard ard industrially would enter upon profitable i c commerce J with highly highly developed developed industrial industrial countries countr es J lacking king in fu rs v ra materials Trade between e n peoples i t he trop temperate e regions region's would likewise be be stimulated This hIS heightened intercourse between nations is t tI the I primary objective of the s silver pro program ram All AllI I other benefits are derivative 4 o the f fundamental fundamental funda da- da II Io mental thesis 11 I It It is not difficult to perceive that lat establishment establish establish- m ment nt o of profitable and agreeable trade reI relations relations rela rela- a- a ii ns would materially enhance the probability of enduring peace between world powers level trade barriers and minimize other economic rivalries Of all approaches ches to universal prosperity prosperity pros pros- p rity and well being this is the most direct In Inthis I this this' fact is dis discovered the resistance of international international international inter inter- national bankers and their interlocked arm arma armament I ment industry to 10 the r rational ti nal gold gold- silver gold ilver world I I monetary program Their profits profit from th the worlds world's s misery y would be stricken from their ledgers ledger Nationalization of silver presents opportunity opportunity to th the government to wholly control julia julia- tion It removes the white metal from the sp speculative field It mity turn out to be a move in the direction of establishing a central bank of issue or monetary authority placing full control of money and credit with the govern govern- ment Though manipulation of gold may not b bald be said kaid ald to have e exerted marked effe effect t in jn raising the th general price level it is not too foo much to h hope e that hat this added recognition of silver as asa asa asa a basic money m metal tal may have a profound eret ef er- ef- ef feet et in the admi administrations administration's effort toward set set Ret up a stable and adequate currency as one ODe o of the requisites to improving the country's general business tone Out of this would come stimulated activity in all commodities copper pe le lead and zinc inc This holds the the greatest great great- est 8 st hope in In this region where sil siber er is found In n c complex mp ex ores Recovery of silver even at the hep of of 64 c cents for n newly mined metal etal would bring activity in jn the western min mining nun 1 ing back k to wartime g camps to records if the commodity corn com rn nie metals als reached normal demand deman and price pice t t l Wholly 1 regardless regardless-of of the fact that immediate imme imme- diate local effect may not be expected to result re re- re- re sult ault from this further important stride of silVer silver sil sil- ver Ver Vert t toward ward the desir desired d objective all aU the implications implications im im- im- im of the presidents president's proclamation are c instructive constructive tive and aDd inspire strengthened n d d deuce dence nce that continuing progress toward towar stabilization of md commerce and finance is isI I being e ng r recorded |