MONETARY SILVER

Evening Star, Issue 21747, 15 June 1934, Page 9

MONETARY SILVER

THE AMERICAN PLAN BILL GOES TO WHITE HOUSE Press Association —By Telegraph—Copyright. WASHINGTON, June 14. The Silver Bill wont to White House to-night, when the House of Representatives bad accepted it without recording a vote on the amendments inserted oy the Senate. The legislation is not entirely satisfactory to the bi-metallists and inllatiomsts, but is a compromise o fie red by the Administration and accepted by the silver blocs of both Houses. The Bill declares it to be the policy of the Government that the proportion of silver to gold shall be increased to and be maintained at one-fourth of the total monetary stocks. This would mean that tho Government would have to purchase approximately 1,300,000, 000 ounces to carry out the declaration. When the measure was brought up in the House to-day by tho Chairman of the Ways and Means Committee (Mr Doughtoii, a Democratic representative of North Carolina), he was asked by Mr M’Faauen, of j. cuiisyt vania, Republican, whether Mr Cordell Hull’s Note of Tuesday to Britain indicating a willingness to accept payment in kind referred to silver. “In kind means British goods. It means silver,’’ Mr M’Fadyen said. “ Does the Administration contemplate accepting silver for payment of war debts?” Mr Doughton said he did not know the course contemplated by the Administration in that regard.