Show PLAN FOR WORLD D WIDE PARITY BETWEEN GOLD COLD AND SILVER VER I PROPOSAl COMES FROM SENATOR THOMAS OF OF COLO COLORADO i WASHINGTON Doc Dec A f ro- ro that the tho United States calls con con- f rence or of the powers to consider world wide baelz ot of parity between gold ld and silver wu was brought the cou- cou ot of the tho I currency cur cur- rency bill bUl today daY Thomas Thoma Dem ed a re resolution proposing proposing pro pro- posing that PreSident Wilson be authorized author or- or to England Germany 1 and Prance France whose monetary sya are based on on the gold B standard andard to pate and that delegates be be appointed AP ap- pointed from the tho U United Stat s. s When lien any two nations accept accept- th invitation on A preamble sc set t rth rates or of exchange between between g gold stand stand- standard ard s and the tho i South and Central America fluctuate violently awaya to the d disadvantage of t tho standard gold countries Q tor Thomas contended th that t hi hill lut on call called d for inc in c connection with mth the curr currency ncy bill bill- The Tho c currency problem in an any one OM country cannot be 00 satisfactorily net let tied without r Curr currency conditions conditions con con- con con- throughout the world world J said he ie Efforts for an a for n an ni i early vote vot on the bill met with Ue success today Senator CummIns CummIns' Rep p I continued his criticism ot of the Senator Root presented amendments to eliminate the guaranteed guaranteed- deposits deposit and revise the note to pro vido a graduated tan on de f l in ord order z to prevent nt bon tion Has M ny Many Good Futures I I think this bin bill has many bc ben which which- ought to be eri enacted en- en acted into law he aid HIt It is u F fortunato that that- tb circumstances ii under which the bill ill domes b or n fuU elon I the caucus action actio i on th in asur was was' not delayed until th the bill bilI had bad been threshed out in iii the tho sona senate te In presenting amendments We Iab labor discouraging idea toot that the bill has been already passed J Senator Senator- Root Boot pointed out that there was WaI no Ji limit nit on on the thA amount or of new W the tho currency u- u bill bil which which conic Id b hO iSS biSS od under This provision said Did he h referring to the note nota section rs is simply authority for further increase of our present greenbacks lie He pointed out that the tho government already had 0 ot demand obligations obligations- against WhiCh It holds in In gold and silver He argued that any further farther in in- of obligation should be author author- izod only on ample Predictions of a big bg expansion of DI busin business s that would threaten an overe over over- e expansion ot of credit credit- and c currency the tho new law were by Senator Boot Roo More Than Elastic II Wo We started out to provide au- au sins an-sins- elas tic currency but this Dill bill provides pro for foran foran an expansive currency said aid th the son sen ator uIt It provides pro for a currency that may be increased always in increased rc soo but bot there is no provision compelling its ro- ro While the tho reserve re board Senator r Root admitted bad discretionary pow CIS to limit th the use of currency so 80 far faras faras as t now law itself is concerned con con- corned there rel was no spec specific ic restraint on the constant increase of the tho volume of currency There willbe an activity of that will absorb tho which the tho resortS reserves of tho banks will vill permit ho he crud and it will the exercise to tho extreme of tho th of federal reserve board to hold it in cheek |