ROOSEVELT MONEY BILL

Evening Post, Volume CXVI, Issue 24, 29 January 1934, Page 9

ROOSEVELT MONEY BILL

SILVER AMENDMENT LOST STABILISING DOLLAR United Press Association— By Electric TeltCTiiDh—CopjTleht. WASHINGTON, January 21. The Senate passed the Money Bill by 66 votes to, 23, only one Democrat, Senator Glass, voting against ,tho moasure, which remains in the form I President Roosevelt wished. Minor differences between the Senate and tho House of Representatives must bo adjustod, but the measure is expected to be ready for President Roosevelt's signature not later than Tuesday. In addition to declaring that all tho nation's monetary gold is the property of tho Government, it authorises the Secretary of tho Treasury to maintain tho dollar valuo between 50 and 60 per cent, of parity through the use of a two billion dollar stabilisation fund. Administration leaders almost suffered a reverse when silver advocates recruited from,both parties failed only by 43 votes to 45 to incorporate an amendmont making the purchase and remonetisation of 750,000,000 dollars of silver, either from domestic or foreign sources, mandatory. An amendment authorising the issuance of certificates against silver purchased from domestic producers under tho London agreement was adopted by the Senate without a vote being taken. The amendment permits the President to exercise the powers conferred within his own discretion, and also' permits the issuance of silver Certificates against any silver held in the Treasury and would allow the President to mako a larger coinage charge against foreign bullion.! i" .