OCR Text |
Show HALF WORLD'S PEOPLE DEPENDS ON SILVER ' Persons casting about for the cause of world depression depres-sion would do well to give thoughf ul consideration to the silver problem. This price of this metal, which constitutes the money and savings of nearly half the population of the world, has fallen to unprecedented low levels. Until early in the nineteenth century the monetary systems of the world had usually both a gold and silver basis. Since then the great nations have been shifting away from silver, to adopt the gold standard. Demand for silver has consequently conse-quently gone down. The difficulty lies in the fact that there is1 too great a scarcity of gold to make it a practical medium for handling hand-ling international business. The purchasing power of entire en-tire nations has been lowered to a fraction of their former form-er strength. Swift and decisive international action must be achieved if substantial progress in rehabilitating silver is to be made. The problem of silver is a world problem, vitally affecting trade of the world, and it must be treated accordingly. |