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Show BANKERS DEBATE GOLD TAX PLAN Mine Costs Go Up But Gold Price Stands Still, Says Advocate tX'ASHINOTONv Oct. :m - Tin afe-I-'addeii lull proposing a lax on gold used In Industry and the arts lo ' Pud In turn to the mlnlns companies lo stimulate production was attacked: and defended today before the Amcrl-j can Bankers' association. a special committee appointed by tin association ! study the measure submitted a report vigorously oppos- j int- th lull as an attack upon a basic loment of the gold Standard" while rtopresentattvi MeK.niden, au-l thor of the bill, defended the proposed law. declaring thai the addition ofj new gold to the nat'on's reserve would j assist deflation and stimulate a healthy! return to normal. A motion that Mr. McFadden'a remarks be received with thanks and filed with the reports ofj the run vent ii. ii vva-s defeated. The I convention then adopted a motion that the entire question be referred lo th'- economic policy committee. h M m man costs Th spe.-lal commit lee In Us report' - nun nded that gold mines were oiil 1 one of the many industrial sufferers from the war and might well look for-1 ward tn ii return to an industrial situ-' atlon which would more than conipen-j sate for their present slTingeiicv-. Mr McFadden declared that the average cost ..f raw materials !n all! industries during the vvar period had ' . i' reaaea ii. per cent, while the ufora ..: --..i.i in the Industiieii continued to obtain their raw mnterlal at the jire- j war pries fixed by tho government IT DIDN'T . I I'. This, the speakei addedv mad,, gold' uplque in that it was the onlv ma ter(al which was prevented by Ihe1 govornniont from hole? influenced by the natural law of supply and demand. I Mr. McFadden denied the committees commit-tees contention that the proposed bill was a blow at the cold standard, main- I tainlng that Its enactment would be accepted abroad as evidence of the ' determination of the United Stales to strengthen Its gold reserve. oo |