OCR Text |
Show RAINEY BACKS : BIMETAL PLAN FOR INFLATION Floor Leader Of Tho House Favors Fav-ors Coinage Instead Of Tariff Compacts. WASHINGTON, Jan. 16. Representative Rep-resentative Rainey of Illinois, Democratic floor leader, said in an address tonight that reciprocal tariffs as a means of reviving international in-ternational trade were impossible because of existing favored-nation treaties, which cannot be broken until they expire. Rainey characterized as "the silliest of all, proposed inflation of currency to remedy the country's ills.' "We are victims of the price systen" he said; "money only circulates when it is borrowed. And it is only borrowed for construction con-struction or. some other enter prise. And now it isn't borrowed; so It doesn't circulate. "If there is to be Inflation, I prefer bimetallsm as the medium. That would give us trade with one of the .mostly populated sections of the globe.'' |