READY FOR SIGNATURE

Dominion, Volume 27, Issue 221, 15 June 1934, Page 11

READY FOR SIGNATURE

Silver Bill in United States QUESTION ON WAR DEBTS By Telegraph-—Press Assn. —Copyright. (Received June 14, 7.40 p.m.) Washington, June 13. The Silver Bill went to White House to-night, when the House of Representatives had accepted it without recording a vote on the amendments inserted by the Semite. Tito legislation is not entirely satisfactory to bi-metallists and inflationists, but was lite compromise offered by the Administration and accepted by the silver blocs in both houses.

The Bill declares it to be the policy of the Government that the proportion of silver to gold should lie increased to and maintained at one-fourth of (lie total of the monetary stocks. This would mean that the 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 on Wednesday by the chairman. Mr. Doughton (North Carolina, Democrat), of the Mays and Means Committee, lie was asked by Representative McFadden (Pennsylvania. Republican), whether the Secretary of State, Mt' Cordell Hull’s. Note of Tuesday to Britain indicating a willingness to accept payment ’!• kind referred to silver. “In kind means British goods. It means silver.” Mr. McFadden said. “Does the Administration contemplate accepting silver for the payment of war debts?” 'Mr. Donghton said he did not know the course contemplated by the Administration in that regard.