Indianapolis Times, Volume 43, Number 116, Indianapolis, Marion County, 23 September 1931 — Page 14

PAGE 14

SILVER DRIVE IS GIVEN IMPETUS GY GOLD CRISIS Old Issue Bobs Up Again as Likeliest Remedy for 111 World. BY WILLIAM PHILIP SIMMS Scrlpvs-Howard Foreirn Editor WASHINGTON, Sept. 23.—The adequacy of the gold standard under present-day conditions once again is questioned seriously as Britain suspends gold payments and other great nations reel on their foundations for lack of the yellow metal. Simultaneously, bimetalism and the old issue of silver money bobs up again as the likeliest of remedies. President Hoover now may find it possible to convene the international silver conference urged upon him by Senators Smoot, Borah, Thomas, Pittman and others. There is too little gold in the world, .t is urged, but plenty of silver. With haif the total supply in the hands of America and a fourth in possession of Prance, the struggle of the other countries for gold has played havoc with their economic and political systems. Silver Drug on Mart Meanwhile, silver, as a commodity, has become a drug on the market. From over a dollar an ounce in 1920, it now has fallen to twentyseven cents an ounce. More than half the people of the earth, among whom silver* still is the standard of value, are unable to buy goods made in America or any other gold standard country. As long as gold continues to be the basis of international trade and remains scarce, economists assert, commodity prices are likely to remain low. In the scramble for some of the limited supply, it obviously will take a lot of wheat, cotton, corn, coffee, rubber, or what have you to obtain a given amount. Dear gold is another way of saying cheap commodities. Thus, it is argued, bimetalism or the restoration of silver as money at some fixed ratio with gold, would cheapen gold and so increase the value of the things farmers and others have to sell. Many Join Detcrding The rehabilitation of silver, an increasing number of observers are saying, would put China and India back on the map as markets for American products, and the resulting inflation would start commodities moving and set on foot the machinery of better times. “Immediate adoption of bimetalism is the only possible remedy for our sick world today,’’ Sir Henri Deterding, British oil magnate and financier declared. And today the plight of Britain, due to her unsuccessful struggle to keep to the gold standard, is making converts for the Deterding scnool or thought. It is believed here that Britain’s insistence upon putting India on a gold basis against the will of the population may be altered by recent events. For years India has been throwing ’arge quantities of silver on the i

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BELIEVE IT or NOT

wmos-GvazEss Mr** " -man jJjC he has not WORN a COAT OR hat A GRAVESTONE. iN >£>,o _ YEARS

Following is the explanation of Ripley’s “Believe It Or Not” which appeared in Tuesday’s Times: Running a Mile Consumes Less Energy Than Walking—An experiment conducted by the nutrition laboratory of the Carnegie institution in Washington, disclosed the curious fact that a fast walker will consume more energy

world market, tending to force the price down. Every time silver would rise a point or two, the British would sell some to obtain gold. The constant threat of dumping Indian silver on the market has been a constantly depressing factor. Rescued From Well; in Again By United Pres a LAUREL, Miss., Sept. 23.—Nobel Spradly nursed only bruises today as a result of falling twice to the bottbm of a fifty-five-foot well he was cleaning. The first time he fell watching his hat descend and the second time as friends were pulling him over the top and he slipped.

On request, sent with stamped addressed envelope, Mr. Ripley will furnish proof of anything depicted by him.

in walking a horizontal mile than a runner who progresses at a slightly higher rate of speed. The saving in energy required is about 15 per cent in favor of the runner. Reference: “Energy transformation” by F. G. Benedict, P. 87. Thursday—“ The Town Where Shaves Are Against the Law.”

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GEN.BUTLER TO ENTER POLITICS, CAPITAtJINTS Retirement From Marines Believed Signal for New Move. BY RAYMOND CLAPPER United Press Staff Correspondent WASHINGTON, Sept. 23.—The rousing sendoff given Major-General Smedley D. Butler as he retired from the United States marine corps was construed by many here today to signal the approach of anew figure in politics. The farewell program put on for Butler at the Quantico (Va.) Marine base Tuesday night was calculated to send him out into civilian life with a fanfare fitting his spectacular military career. Butler, it is expected, will announce plans soon to become a candidate for the United States senate in Pennsylvania against Senator James J Davis, who stands for reelection next year. Added belief that Butler will enter politics is based on remarks of Governor Gifford Pinchot of Pennsylvania, who said at Quantico: “We are all going to hear more from General Butler.” Afany believe Butler is destined to become one of the first outstanding national military figures in post-war politics. His irrepressible personality has survived the heavy restraints of marine corps routine. He has been disclosed as a daring, sprightly and potential figure, the kind of a blazing comet that shoots across the drab political sky once in a generation. Bequeaths Ice Cream Fund By United Press MIDDLETOWN, N. Y., Sept. 23. Women patients in the state homeopathic hospital here will receive ice cream on warm days between May and October each year, to be purchased from a fund of $1,500 bequeathed by William G. Jenkins. If there’s any left the men will get some.

SEEK TRACE OF FLIERS United States Embassy Asks North Sea Ships to Look for Cramer. By United Press LONDON, Sept. 23.—Ships in the North sea kept “careful watch” today for Parker Cramer and Oliver Pacquette, American fliers lost on a flight from Greenland to Copenhagen. The search was requested by the United States embassy. It is believed Cramer and Pacquette might have found refuge on a North Sea island. The wreckage of their plane was found off the northern coast of Scotland last week.

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SEPT. 23,1931

self to prove they could get passengers if they tried. On his first trip the passenger robbed him of his cab, his pants, and S3O.