SILVER AGITATION
SENATE TO AMEND BILL
WASHINGTON, April 7.
. The silver agitation in Congress took a definite turn today, when a group of Senators, ignoring the wishes of Mr. H. M. Morgenthau, Acting-Secretary of the Treasury, drafted an amendment to.the House of Representatives Silver Bill,' and declared its acceptance assured.
Whereas the former Bill was limited in scope, the proposed amendment would renionetise silver through the nationalisation of all domestic stocks of the metal which, would be paid for at tho highest daily spot price, with silver certificates printed by the Government to back silver at the old statutory price of 129 cents an ounce, compared with-the current price of about 50, thus giving the Government a sizable profit in the same manner as from gold. ' The amendment further authorises the Secretary of the • Treasury to purchase in the world market up to 50,000,0000z ' monthly at the same price, until "the old statutory price is reached or commodity prices have returned to the 1926 level."
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Bibliographic details
Evening Post, Volume CXVII, Issue 83, 9 April 1934, Page 9
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165SILVER AGITATION Evening Post, Volume CXVII, Issue 83, 9 April 1934, Page 9
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