Salt Lake Telegram | 1935-05-13 | Page 16 | Financier Flays Silver Policy

FINANCIER Ft SilVER POLl 1 BASEL Switzerland May 13 J The The annual report of or the Bank International Settlements Leon Fraser Eraser o of New York today the United Stat States s silv silver icy cy 1 I The banks bank's report d discussed fl practical application of ol the A Acan Am I scan ican can policy of o increasing the do doin domes price of newly mined domestic ther thereby by increasing the world pr ti It said the policy had a bad it f e on the currencies of or silver stand stan countries and the general exchanges that there w was curren show that it might cause a j fun mental change in the position of ot silver up The banks bank's report said This policy has resulted j la In t rapid advance of oC the pi pice ce of U with an an immediate injurious effect rs the currencies o of silver sil stan alan countries It HIt has had disturbing re rep reper r I in the general exchange position Had there been any genuine i mand for tor silver internationally as aj gold there would have been no rio a for tor adoption of special action b by United States to help silver The report concluded conclude f with t statement that there is no evide to justify the conclusion that ru policy will produce a ch change ln e in the monetary position silver a as 33 considered from an is in li national viewpoint U