Salt Lake Telegram | 1933-10-05 | Page 1 | Thomas Backs Silver Money

THOMAS SHACKS THUMA-SHACKS f. f BACKS BACK SILVER MONEY Utah Solon Tells That S Must Come Coma of silver is assured because the world does not riot want tc to declare itself bankrupt and even ever though the banking world does not nol want bimetallism the world wants silver sUver silver sil sU ver as a means of dou dou- aling bling the metallic ba base United states State Senator Elbert D D. Thomas told mem memo hers bers aers of the Kiwanis club at atthe the Hotel Utah Thursday noon Doon Any person or any country refus refus- ng ing to silver and thereby I I increase e the wealth of the world by 50 per percent cent and increase the ability of ot the world by 50 per cent to pay its debts Is opposing common sense meth meth- Senator Thomas declared The silver situation is better today I than han at any time since 1873 Senator Thomas pointed painted out in d declaring claring that expansion of credit means expansion of debt while the only way to Increase increase In in crease wealth is to increase wealth He urged silver as a means of increasing by 50 per cent centI I the he value behind the worl worlds world's s 's metallic base for issuance of money I am an absolute believer in the use Lire of ot silver silver not not solely from the standpoint of Utah as a silver producing producing producing ing state but state but from the principal standpoint stand stand- point of benefit to the whole world he ic added He declared the use of both oth silver and gold g ld as monetary standards stand stand- ards mis has been approved since the beginning beginning be be- ginning of time and that the bimetallic system was recognized as Is best by both Alexander Hamilton and Thomas Jef Jef- ferson erson at the time of the writing of the United States constitution While most of the world seeks re re- re- re of silver as a tremendous forward orward step m most st of the banking world an extremely limited group is opposed to bimetallism Senator Thomas continued Control of monc money hould should be in the government of the United States States' as provided in the con con- whole world should not ot be made subservient to one class through the gold standard I I