NEWLY-MINED SILVER
United States Treasury to Pay Higher Price (Received April 11, 7 p.m.) Washington, April 10. President Roosevelt has increased the price which the Treasury will pay for newly-mined silver from 64J cents to 71, the increase to become effective on production dating from April 10. While silver Senators expressed pleasure, it was felt the higher price would have little immediate importance outside its effect upon domestic production. Officials indicated that the amount of additional silver that would have -to be bought to acquire a 25/75 ratio with gold had been revealed for the first time. Based on the gold reserve silver stocks of 2,866,580,969 dollars would be required, of which the Treasury had on April 8 only 915,613,902; but present action had little relation to that.
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Bibliographic details
Dominion, Volume 28, Issue 168, 12 April 1935, Page 11
Word Count
128NEWLY-MINED SILVER Dominion, Volume 28, Issue 168, 12 April 1935, Page 11
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