Washington, Mar. 25, The Monetary Committes of the International Chamber of Commerc: issued a warning to-day to the governments of the world against further delay in monetary stabilization, Predicting that a new wave of currency instability will develop un-fess stabilization is achieved prompt-By, the resolution admits that the Sutlook is more promising than since 1929, but if non-gold countries seek farther advantages those countries maintaining the gold standard may fo off it and cause a new world money war.
The memorandum drawn up in the chamber's behalf by Prof. T. E. Gregory, points out that, contrary, to anticipation, exchange deprecia~ tion has acted as a deflationary f for in world trade.
There is no need to suppose thet} stabilization will result in a fall in prices or that revival of internat lending is dependent upon sta zation. Experience points. to the Sesirability of some interval between #e facto and de pure stabilization.
Professor Gregory believes that a small conference comprising Great Britain, Japan, the United States, France and German, is needed to Siscuss the matter.
The object would be to persuade! President Roosevelt not to use his! Se! ower to lower the dollar, provided sterting-yen Representatives Washington, Mar. 19.
By eleven votes more that the cessary two-thirds majority requirsd, the Mouse of Representatives
aver becomes law, may have a far Bssed 'a measure which, if it reaching effect onthe price of silver. The measure received the bene di ion of the House by 257 votes to 112, although 246 votes in its favour would have been sufficient to secure passage.
It, was the Dies Bill, which authorized the Treasury' to accept silver in payment for agricultural surpluses at a premium up to 25 per cent. over the world price, with payment for all supplies of the'white metal s0 obtained made with silver certificates specially issued for the purpose Tt will now go to the Senate, [where its fate is uncertain because C.
the opposition of Mr. Henry Morgen that, Jr, Secretary of Treasury, {fo action at the present diet that they will have no di Sponsors of the Bil however, pre. in steering it through the Senate—
Text read from the printed page and cleaned; old type leaves the occasional error.