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Show Gold Engineer Holds Silver Vital to Trade I. H. Hammond Urgos Broad-onlng Broad-onlng of World Flnan- , clal Baa (By Asasslalid Preae) PASADENA. Cal, March IT John Hayl Kmmood, acted mining engineer, engi-neer, whoaa aontrUMiUont la tha fold supply ara credited with outranking Ihoee at thy other Individual, laat night took laaue with Ihoee wha contend con-tend thle eountry baa not abandoned tha told standard. He thlnka It hat Addressing group of aclenueU and nthert at the California IntUlula at Techoatorr. Mr. Hammond alio advocated advo-cated rehabilitation of tilver to -broadea lha meUlllab.lt pt the world financial ttructure." Ha taid tha reaeonaole atablllxatloa at allver value la relation ta gold by International Interna-tional agreement would be a vital tes ta economic recovery. -rtret," ha eatd, -rt would add enor-moualy enor-moualy ta tha world currency beat, and w overcome the low price level of oommodlUea. which bj due to the thoruge at monetary fold, wnoee purehaelnl power la enhanced by tha tborteif -Second, trade with tha Orient Latin America and ether tilver-ualng conn u-tea would be revived and expanded. ex-panded. .... Third, tinea 70 per cent ot tilver It by-product at copper, lead and line mining, the latter I recovery from their present position would be furthered." I Pointing to the recent embargo s fa Inst asportation of fold and other measures to conserve thl country' upply, Mr. Hammond taid: -To contend the United Slate b on the fold standard Implies what Wln-aton Wln-aton Churchill would call the rUk of terminological Inexactitude.' All the greet powers, with lha exception of r ranee, practically ara eft lha fold standard." Maintenance of the fold standard I possible only through the possession of adequate storks, ha aald, and declared de-clared the eupply already it Intuill-cient Intuill-cient "A temporary Increase might be expected." ex-pected." be taid. "but my conclusion, baaed on examinations made under my direction, end supplemental re port ot professional confrere covering cover-ing nearly every part ot the Inhabitable Inhabita-ble globe, warrant the- opinion that no new potential field exist to afford af-ford reason sole expectation of a supply sup-ply ot fold commensurate with re-qulrementa re-qulrementa In the near future." |