Salt Lake Telegram | 1940-03-04 | Page 4 | N. Y. Chamber Assails Foreign Silver Buying

N. Y. Chamber Assails Foreign Silver Buying NEW YORK. March 4 (UP) The chamber of commerce of the state of New York today urged congress to end the authority of the secretary of the treasury to purchase foreign silver. The 3.000,000.000 ounces of silver, more than four-fifths of which Is of foreign origin purchased at a cost of nearly $1,000,000,000, now held by this government "is both a white elephant on Its hands and a potential menace to the stability of the world's economic structure," the chamber said.