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Show Congress Swamped With Measures for Currency Inflation lore Than Fifty Bills Proposing Methods of Dealing With Money Problem Are Presented By ARTHUR SEARS HENNING WASHINGTON", Jan. 19 (CTS) The atmosphere of Cap-tol Cap-tol Hill Is surcharged with talk of Inflation. More than lfty bills proposing all sorts of schemes of Inflation for the lurpose of cheapening money for debtors and boosting com-nodity com-nodity prices for producers are pending, and each day some new plan Is brought forth. Tha Inflationists are getting chesty snd predicting -cheap money legislation legisla-tion before the end of this session, rhe ntiinfltlonlstt merely smile tolerantly, tol-erantly, confident that President Hoo-rer Hoo-rer would successfully check any pro-tram pro-tram of Inflstion with a veto. The Inflstion bills ara pending In rariou committee which hsve done nothing thereon up to date, although holding out promises of hesrings on the vsrious measures within the next fortnight So far ss the Democratic house is concerned, the disciples of the "new deal" ara all at sea. Assistant As-sistant New Dealer John N. Garner snd all the other mw dealers don't know exactly to what extent H any, cheap money enters into the new deal. Hence, the committees are proceeding vsrily till they can find out Soma bops is entertained among teh Democrats that they will be led out of the perplexities on this subject sub-ject by the head new desler himself, President-elect Roosevelt, when he sojourns in Wsshlngton tomorrow snd Fridsy. Mr. Roosevelt has not clearly defined his attitude toward inflation, although his utterances in the presidential campaign on tha relief re-lief of the debtor class appeared to exclude resort to cheap money. The Democratic platform declared for a "sound currency to be preserved at all hazards. The only concession It msde to the Inflationists was espousal of an international inter-national conference for the rehabilitation rehabili-tation of silver. IMPORTANT ISSUE New York financiers, believing that Inflation is going to be a big issue during the Roosevelt regime, hsve been at considerable pains to learn the attitude of the head new dealer. As a result the word was being passed around Wall street yesterdsy thst the president-elect is opposed to Inflation Infla-tion of the currency, but is in favor of Inflation of credit through the operation of the federal reserve system. sys-tem. If this be true, Mr. Roosevelt Is In sccord with the present policy of the federal reserve system, which, for nearly a year, has pursued a credit Inflation policy through purchasing of more than a billion dollars' worth of government securities. One of the purposes of this policy wss to boost commodity prices, a purpose which hss not been attained up to date, (Continues ea Pass Three) CONGRESS GETS CURRENCY BILLS Ceallaaae Pre Pate Ontl mainly becauie, while the meant nf credit Inflation hat been provided, there haa been no Inflation. The reaerve bank operation! re-fulled. re-fulled. In pllinf up excess member bank reaerve of more than t&OO.OOO,-000 t&OO.OOO,-000 of idle money upon which more than five billions of credit could be based. But partly because Industry, at a standstill, la seeking- few loans and partly because the banka are (earful of making long term loans, this reservoir of credit has not been tapped. Ion among Democratic leaders that tome sort of a silver bill Is thenost that congress can be expected to approve ap-prove either In this or In the next sdmlnistrstion or that Mr. Roosevelt would be disposed to sanction. The Steagsll bill provides that the secretary of the treasury shsll purchase pur-chase in the open market at its market mar-ket price silver bullion in the amount of SUO.OOO.OOO, and thereafter ahall purchase monthly at the market price liver bullion equal to "one-twelfth of the estimated annual production of liver bullion In the United States. Alaska and the Philippine Islands." Payment Is to be made tor the bullion in ailver certificates. "The silver certificates Issued as provided in this act," saya the bill, "are hereby made legal Under and shall be accepted at their full face value for all debts and due, public and private, of every nature and description, descrip-tion, and when accepted by the government gov-ernment In payment of debts shall be reissued and in all respects ahall become be-come a part of the lawful money of the United States and are redeemable redeem-able at their face value In lawful money of the United States.' Other silver bills are pending, ranging from ailver purchase plans by Senstor Key Pittmsn D, Nev.) and Representative Andrew I Somen (D, N. Y.l. to a Bryanasque 1 to 1 silver coinage bill being pressed by Senator Burton K. Wheeler, radical Democrat, Montana. All the farm organizations urge Inflation. In-flation. The American Farm Bureau federation has Indorsed Professor Irving Irv-ing Fisher's compensated dollar plan. The National Grange demands currency cur-rency inflation sufficient to restore the price level of 192, The Farmers' union la for straight 1 to 1 free coinage of silver. DEBTS SCALING With the prices of farm products down 50 per cent or more, the agrarian demand reflected In congress la for either a scaling down of the debts of the farmers or a cheapening of the money with which to pay the debts. At present the movement Is toward both of these objectives. The cause of the Inflationists haa auddenly been brought Into the limelight by the filibuster fili-buster against the Class bsnk reform bill conducted by Senators Huey Long, radical Democrat, Louisiana, and Elmer Thomas, radical Democrat, Oklahoma, both of whom are inflationists, infla-tionists, credited with maneuvering to force acceptance of a currency Inflation In-flation program as the price of pas-sate pas-sate of the Class bill. In the house much significance attaches at-taches to the Introduction yesterday by Representative Henry B. Stesgall (D., Ala.), chairman of the banking and currency committee, of a bill for the remonetiiation of ailver. This step followed herd on the declaration declara-tion of Majority Leader Henry T Rainey that silver remonetiiation legislation leg-islation Is about as far as he is disposed dis-posed to go toward currency inflation. infla-tion. There la a pretty general opin- |