PROBLEM OF SILVER

Evening Post, Volume CXVII, Issue 106, 7 May 1934, Page 9

PROBLEM OF SILVER

ROOSEVELT CAUTIOUS

INTERNATIONAL MATTER

WASHINGTON, April 26.

Washington observers say they see in President Roosevelt's silver policy and other developments a, rising opinion in Whito: Houso that much less artificial respiration is to be pumped into the American economic situation than has been expected by the inflationists. :.-'.■

It begins to look very decidedly as though, while on his vacation, Mr. Roosevelt had been seriously listening to business advice that things : would improve faster if v less and less- Gov-i eminent interference were applied. Mr. Roosevelt feels that the answer to the silver remonetisatiqn problem lies in the formula presented to, but still unadopted by,r the London Economic Conference, whereby all nations would fix definite reserves of silver in ratio to the gold supply. . ■ The White House announces that the Px'esident is convinced that the solution of the silver problem must bo through an international agreement. "It is impossible for one nation to go.t anywhore in' rehabilitating silver without the co-operation of. all countries," he told senators. "The difficulty about the silver business is that it is impossible 'to determine the amount of holdings of silver ■everywhere in the-world," said a statement authorised by the President, -who .added: "You know that .a given panacea does not always cure the patient. When we started, buying gold, we knew pretty well just where the: world's supply was located."