Salt Lake Telegram | 1935-12-19 | Page 21 | The Financial Whirligig

k The Financial Whirligig I By NE NEW YORK D Dec bet 19 Our 19 Our Brit Brit- i n cousins are far more upset by l tlC recent sti suspension p n of at leer iver fr purchases purchaser In London than ley IsY care car cacti to let Jet on on ii Its It's a a. blow atro at N tt very roots of al t th the m managed curen cur- cur sn en 1 bt that Engl England nd has lies ex- ex BO eo neatly A fi 6 Currency urt nc like like sterling 1 in tn only be managed successfully I a si fixed filled d fulcrum W We Ve have sari een providing th the fulcrum of ot a able gold dollar f for far r the British aund and the fulcrum of at steady iver Iter purchases at a set P price rice e which L' L London ondon has been N a and d Ie Now tho rho silver tr prop has hns find and nd British mone moat In Jn tho far tar cast coli col- col i ipse a Iii contusion confusion hats That's bad enough enough enough- but theres there's he lID implication for tor British behind It There's Theres noth- noth 11 nl tu to atop stop us from k the far tar lOre atre we Important ril gold scaffold ld out rum rOm jom under them also if wo choose f. f t we w Vera hero morel merely Y to announce u hat t Ii lye shall no lon longer er Y a set price of 35 35 an ounce for tor r old ol It Would uld bl blast t the da daylights Y li g geh hta raft iUt of at U llio e delicately dY adjusted Brit Brit- eh l monetary n lary structure Not that iut uth iula t lea lla i drastic fist etc step P is P probable probable- the bare possibility that Iv u s London th the shudders the th co contusion confusion n ut iver v flea financial t natal i l experts credit credity story y a with one of e smartest subtlest and most moves mores In n new w deal mon mon- history his t r O Our r government ti is international currency stab stab- lion cin on ona a metallic base London tern ers the h status q quo in which the them S Cd a pound has haa a abig ig advantage m mCd v over aver the fixed dollar and has stalled oft off ev every ry suggestion of tion Now our treasury although gh it obviously obviously obviously ob ob- cant can't admit it for tor publication tl tion n is telling felling U the o British Bi in effect that we ar aril are onto onlo their little game and dont don't intend to be played for tor suckers any longer The inference is that they had hats better play ti Hall Jl on stabilization or bo prepared for a n dog dog cat eat dog battle batUe of at managed currencies currencies currencies cur cur- with tho rho dollar off ott gold again In Sn which our superior re resources resources ze- ze sources would give us a vital edge New York sharps are confident that England will come com to terms She cant can't afford the tho risk at of assuming assum assuming assum- assum ing th that t wo wb fro are bluffing This should greatly expedite a st st. stabilization agreement which agreement which F. F D D. R R. wants to get before election Franco Franc is fa understood understood understood un un- to be ready to r revalue v luo ona on ori ona a new international g gold Jd basis j just jast justas st stas as so soon ri a liS as she oho is 15 sure the p pound und will vm stay put That's That why the silver maneuver Is rated a be beautiful force farce P play Y William m Randolph R rid Hearst Implies that Alt Alf London's Landon's dryness wont won't dampen his hs enthusiasm for the Kansas Kansas Kansas Kan Kan- sas governor New Yorkers who know their Hearst ate are re skeptical They day aay y that Willies Willie's hatred for forthe or orthe or orthe the new deal and determination to kill it may cause him bins to overlook Landon's London's ti slon of f a fundamental fundamental funda funda- mental principle principIa Io for t the o moment mom nf Bu fh they y doubt th that hat f Hearst can take ratio it when Democrats start throwing it in his face tac as part of their lr dally daily dall dozen dozen which h they hey un will ill if It the Landon boom persists persist Copyright 19 1935 for The h Telegram g ram