Show f SENATE ENATE SILVER FORCES FORGES BEATEN BY CLOSE GLOSE VOTE V TE Wheeler Plan L To Buy Metal r Loses by 45 43 14 G G. G 0 O. P. P Senators Join in Backing Amendment to Gold Cold Measure KING THOMAS IN fN FAVOR FAVO Passage of Money Bill by Nightfall Expected By Press WASHINGTON Jan 27 27 Sliver Silver leaders mustered 43 votes in support of the Wheeler plan for forthe the purchase of the white metal but were defeated 45 to 43 In the senate tada today The vote was on the proposal offered by the veteran Montana Democrat as an amendment to the Roosevelt money bill for the United States to buy 25 25 ounces of silver a month until the he price reached the ratio ratio ratio-of of 16 to l 1 Fourteen Republicans including some regarded as conservative by their colleagues joined in lit the vote vo for the thc amendment Both Utah's Democratic senators senator William H. H King and Elbert D. D 3 Thomas voted for the amendment The close vote was not expected until just before the balloting when it t was learned a number of Republicans cans were in favor or of it Just before the amendment was wa taken aken up Senator J Joe e T. T Robinson democratic leader announced it was in conflict with the policy expressed In Iii n the presidents president's monetary message Robinson was obviously nervous during luring the balloting He smiled broadly broad I ly as the result was announced During debate on his amendment Wheeler contended it was vas designed not to hinder the presidents president's program but to assist it materially With the Wheeler amendment out of or the wa way the senate began taking up Lip other proposals with final vote vot on the he monetary bill apparently assured by nightfall The Thc Pittman amendment authorizIng authorize author ing ng the issuance of ot certificates against silver purchased from d domestic producers producers pro pro- under the London agreement was adopted by the senate Meanwhile the house banking committee com made plans for beginning Tuesday Tues day day- daya a detailed study of bills to establish cs es a federal mOr monetary tary authority which would have the sole right to issue currency Chairman said he had not Continued en on Pr Pace Tw Two Tuo SILVER BEATEN IN CLOSE VOTE I Wheeler Amendment to Gold Cold Bill 81 Defeated in Senate by y 45 to 43 Continued train from Page Fata Pal One discussed e the proposal props with wih the admin admin- leaders leader but felt that this is 1 the te next logical logic step ste ste. In the cour course e of or th the hearings he said the committee also sId commit alo will wi consider consider con sider rider doing something more for lor all sll ver I Im Im not a silver siver expert he said sid but ut I feel fee and ad I have felt fet for a long V time Ume that we should use we more silver another some way or The Te first fist bill bi to be considered on n on which the opinion of ot the treasury wilbe will wil willbe wl be sought would sought would establish a federal federa monetary monety authority of seven loven members memo meat br hers bers Wheeler Points Point Benefits Wheeler told toM the senate his amendment amend amend- meat ment met while not opening the mints mt to free coinage of iver silver would perm permit demonstration that raising the price prie of the metal would woud Improve trade in i using silver cotI countries s. s It I would woud not be necessary to employ college professors to show this t he said sd He declared Alexander Hamilton Haiton and Thomas Thoma Jefferson and not Wit Wil Wie lum Jennings Bryan were the authors and ad fathers ather of ot silver free policy and read quotations from fro th the first two In support support Wheeler said If the gold content of ot the dol dollar were cut no more currency Issued and ad silver not used to increase incese tha the money supply we will have a continuance continuance con con- of low commodity prices This Tt amendment should be placed In I this thi bill bi he declared as ta an experiment ex ex- to t demonstrate to t those thoe who say you ou cant can't silver sUver without without with with- wit out wrecking the financial system of the country t tAfter coutry After Wheeler had spoken two hours Senator St iwer R. R R. R Ore called calle attention to t what he termed Inherent dangers danger in the te money bill bIl N 4 Foresees Grave Dangers Dancer He lie said although there thero was wa no guarantee guarantee guar guar- antee ate of ot price enhancement there gr was wasa a guarantee grantee of ot an ultimate certainty that thit there tere will wi be an r expansion o of O credit far in excess of the 1929 1920 boom and in sufficient amount to destroy America completely A rIc favored the Wheeler proposal proposal pro pro- pro as a offering the only hope for tor raising commodity prices The Te amendment he said sad would woud not only ony assure asure an increase in the tho price of sliver silver but higher buying power Inal in all al silver lver using ug countries and a better beter market for modie for all a domestic surplus com |