Salt Lake Telegram | 1934-02-20 | Page 1 | Chinese to Oppose Silver Price Raise

CHINESE TO OPPOSE SilVER PRICE RAISE Financial Leaders Cable Protests Protests Protests Pro Pro- tests to President Roosevelt SHANGHAI Feb 20 UP UP Chi Chi Chinese nese financial leaders Tuesday sent c cablegrams to President Roosevelt expressing opposition to any a action tion by iby the United States which would Increase Increase In In- crease the price of ot silver Pel Tsu Yee manager of the Bank of China and the Shanghai Bankers' Bankers assocIation sent the protests pointing point point- ing ng out a price increase would have a deflationary effect here The protests caused a ripple of surprie surprise sur sur- prise prie in New York silver circles asit as asit ast it t was recalled that the Chinese delegation delegation dele dele- gation to the world eco economic conference conference confer conter ence in London last summer had given American experts to understand understand under under- stand they would welcome a moderate moderate ate Increase in the value of ot the white metal