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...Scarcely happier was silver Senator Key Pittman of Nevada, the U. S. Delegate who went to the Conference to urge stabilization of the world's currencies on a bimetallic basis of 20% silver and 80% gold. Evidently nettled by President Roosevelt's refusal to stabilize the dollar now on any basis, Senator Pittman said last week: "The world should either adopt a system of managed currencies or return to a metallic basis. Personally I do not believe we have reached the stage where we can have managed currencies. It comes down to a question of whether we have...

Author: /time Magazine | Title: WORLD CONFERENCE: This Word 'Conference' . . . ! | 7/31/1933 | See Source »

Though his basic proposal had been scrapped by the Conference, Senator Pittman kept open house in his hotel suite for delegates of silver nations, worked furiously to get them to sign a "memorandum of agreement" to steady the world price of silver as a commodity. During a hectic day & evening he finally wrung signatures from delegates of seven other nations, the last to sign (just before midnight) being China's owl-eyed Dr. W. W. Yen. "This," cried perspiring Senator Pittman, "is the most dramatic moment of my life...

Author: /time Magazine | Title: WORLD CONFERENCE: This Word 'Conference' . . . ! | 7/31/1933 | See Source »

Experts in London estimated that Senator Pittman would have to persuade the U. S. Congress to buy an additional $12,000,000 worth of silver for treasury purposes per year in order to make the scheme work.* His "personal triumph" in rescuing something from the silver stalemate spurred the "Big Four" wheat nations into efforts to conclude a face-saving "agreement in principle" or, failing that, to set up in London a Permanent Wheat Advisory Council...

Author: /time Magazine | Title: WORLD CONFERENCE: This Word 'Conference' . . . ! | 7/31/1933 | See Source »

...Leaving Buckingham Palace after a late chat with George V last week, lean, purposeful U. S. Conference Delegate Key Pittman found himself marooned in the palace courtyard. The tall iron gates were locked. The imposing Grenadier Guards in their massive bearskin hats refused to do any unlocking. Senator Pittman pleaded to be let out. After long argument, the Grenadier Guards, still unable to comprehend why Delegate Pittman should not have been called for by his own car if he really was a person of such importance, grudgingly let him escape and hail a taxi...

Author: /time Magazine | Title: GREAT BRITAIN: The Crown: Jul. 31, 1933 | 7/31/1933 | See Source »

...holding a final plenary session at which speakers of all nations will spout on July 27, must then adjourn. As president of the Conference, Prime Minister James Ramsay MacDonald declared that the Conference will surely reconvene next October, but a majority of delegates felt unquestionably that it was dead. Pittman's Plight. Who killed Cock Conference? Everyone except the U. S. delegation privately pinned this honor on President Roosevelt. His refusal to negotiate either stabilization of currencies (TIME, July 10) or even "steadying" of the dollar (TIME, July 17) created an atmosphere in which the Conference concluded that...

Author: /time Magazine | Title: WORLD CONFERENCE: No More Chatter! | 7/24/1933 | See Source »

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