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Show ''TlTgovernnicnt's .-.it'1" ,, attracting at- (i!""1 amon8 these ;kf. '' ,,r of rising pnees : -iiem" or necessaries of l0C': s,ld , seems to have :::.te silver question j 00 h of the Treasury s irenienttotracle old W some f 0,6 fc; anditsimplications. ii rJrrfrato at this time, how-.-.'calling that when the I -,A 1934 was passed. I columns a prediction riPt .:country sooner or later 4e; let that legislation. Ire- !a :;5;t3tement now and I do 15... - ... l. nntu trie a silver certificate occupies exactly the same place in our currency structure us does a bill that is backed by gold or one that is issued is-sued by the Federal Reserve banks. Therefore, it seems to me to be a fair statement to say that the whole currency structure is tainted by this deluge of silver certificates now and heretofore coming from the Treasury. Treas-ury. And it is equally a fact that prices of every kind are going to increase exactly in accordance or in ratio with the new money that is put out from the Treasury. I do not know how long it will be until the voters wake up to the necessity ne-cessity for repeal of the silver act. It probably will not be long before there is a wave of public indignation indigna-tion against the policy if the average aver-age person realizes that the pro- I gram is actually a tax upon the American public. Surely, if the silver sil-ver policy were labeled, "tax to support sup-port the silver program," the attitude atti-tude of the country would change hi: - will recognize what out- tfnolicy is do'nS t0 mos' In by that, it will not 'johnQ. Public .j that the silver poli- with the high - ' paying for his pound of hat;-' S sKce of beefsteak or a baltf- '.fie items that he buys ,,lk er, store. He will feel ft ken he seeks to buy a new kn ' clothes or a new pair of tiU raerecan be no argument jottoo if tte affect of inflation eel 'iioot by a perfectly ridicu- ;;Ter policy is upon us. n - m. Chinese minis- overnight. That really should b the name of the Silver Act of 1934 because that is its eflect. The tax results from the fact that the Treasury Treas-ury is paying foreign producers as well as American producers prices for silver that are higher than the value of the silver warrants. This means that any article of silver that you buy in a store costs you more than it would if silver producers abroad and in the United States were not being subsidized. The additional ad-ditional cost is a tax on every buyer just as much as though you had paid the tax directly into the Treasury. shoe': V,.nce visited Washington INr ''personally at the Treas- stress the appreciation of d t government for the sat-irdSir sat-irdSir conclusion of negotiations oud!"- Wiethe Chinese to give the mU- a Treasury silver for gold. i ie usual diplomatic courte-ver? courte-ver? i: j the same time, however, rei f:: "it of the Chinese minister ed s';:; : to awaken America to the at the Treasury has been go-,l go-,l , -4 buying silver from for- mentt: atries in order to maintain .ar0C; ::::rary price which the Wash-Tm0", Wash-Tm0", : administration contended . ' ,:ie the world price for silver. '"S'SI: : -ice is forty-five cents an 6 -"and it is a most profitable silver producers in Mexico :;i;da and some other foreign It may be Interesting 10 Know uiai the Treasury has issued nearly eight-hundred million in silver certificates. cer-tificates. In addition something like seven million silver dollars have been coined, and these still remain re-main in the package in which they were wrapped at the mints. Besides Be-sides all these, there is silver bullion bul-lion that cost $375,000,000 piled up in the Treasury. SUver certificates can be issued against this. The silver act of 1934 provided that the Treasury could buy one dollar's worth of silver to three dollars' dol-lars' worth of gold for what is called reserve purposes. On the basis of the gold now held, the Treasury can buy under that law a total of $4,125,000,000 in silver. At the present pres-ent time Treasury records show we have silver reserves amounting to around $2,600,000,000. These figures show, or ought to show, how much inflation lies ahead how much higher prices may go unless something some-thing is done to restore a sound currency policy in the United States. Some Democrats who are not too friendly with Postmaster General Jim Farley, along Just Good, with the Republi-Clean Republi-Clean Fun "ns in congress are having fun these days with the Democratic National Na-tional committee. They are also succeeding, it appears, in making President Roosevelt's political seat uncomfortably warm. Nothing will come of it except that the subject will fill many newspaper columns of attack and defense as the politicians Una , It is not as profitable, jnn as the price the Treasury 's would !3lmerican producers which was still ll-seven and one-half cents menaci. -:t- gjjostiv '.me may ask, what has this :; to do with the cost of beef-iagged. beef-iagged. -m ar"l eS2s or shoes? comet :;Imay be able to explain i feet i; :'. have watched the picture un-s un-s looked ' :id to explain it in a manner jrdfish c ase unacquainted with high iiree to : imay see the thing in its true ruggle t into that c : :itall, the policy of the adit ad-it snsp; ation that has brought bil-ime, bil-ime, 1 1 ' lions of gold into Jt It was I km It the Treasury to be ar tos ''; 'Unfa stored as so much ;tting dead weight has si in many thousands of :I stock in American cor-Xhe cor-Xhe ei::' !i ot their bonds being , njshii -foreigners who gave gold ouchte; Resident Roosevelt at boat fi ministration insisted 1 should not be in circula-isays,''i circula-isays,''i :irniey. ConsequenUy, the nerves Jas so much gold that it t0 bep build separate store-... store-... and) ""Protect it Now. we are shoot back and forth. To review the situation, it should be -called that the Democratic Na-tional Na-tional committee found itself in debt to the tune of about $650,000 at the end of the 1936 campaign. Some bright mind in the Democratic National Na-tional committee conceived the idea of selling Democratic campaign , hark. & '!ome of that gold to China bst Is11' ,IotChlna's silver. I think .:'ltyone will agree that the ,oat, and M as useless because we had g'vi'-i ,s tor il " our currency on. " ' eopIe d0 not want to ragged L- dollars around in their ut a l ;it at the exchange was ' mm- -1 6Ven trade of two ob-getls. ob-getls. ;r'which was usable to ion anda- --Probably could dismiss aU. a wave of the hand. fuch not the case. itf Ser frankly is add-' .Jfroubles because of the permits the wnen ' bemg sterUi2ed and i"ca i Vaults'th silver ac-e ac-e C!!a Prompt increase handbooks to corporations at zou per book, or more, as a means of raising money. To make the book attractive, a single sheet bearing the autograph of Franklin Delano Roosevelt was inserted. Hundreds of corporations were solicited, and hundreds bought the books-theoretically, because of the autograph of the Presem1. Mr. Roosevelt stated he did not know he was autographing the blank sheets for the purpose for which they were used. Republican Leader Snell, of New York, introduced a resolution in the house of representatives proposing propos-ing an investigation of the sale of these books to corporations. He contended con-tended that it was a violation of the corrupt practices act. Mr. Snell remained determined suite"1"; . currency in circu-Jaer';:' circu-Jaer';:' tends t0 Urease This g SyStem' As this '-Z available Ior cir- trials, . alue necessarily and w3S ; become of greater value Serie:!l ;;;'curre more f these ,e for . lt0dor clothes or shoes. ingisl1 i- .--.ti, ' -S with the , ( ement to the extent that Tr'yHl kinds of cur-Jf cur-Jf t I k Wee rh6nCy have not ten expanded & "Nitt 'stru- But we .tion j ufml recognize that however, and sougm w - -New Deal further by asking Attor ney General Cummings for an official offi-cial opinion. At the same time he read on the floor of the house a long they had paid. These facts cut deeply Into the Democrats who are "eking to pro tect Chairman Farley and thDem ocratic National committee wggtea and squirmed. Nevertheless Mr Snell may as well have butted his head against a stone waU got no further than RePreseni Uve Rayburn, the house Democratic leader, would have gotten Mr. Snell had been majority, instead minority leader. western Newspaper Union. |