Juggling With the Dollar

Manawatu Times, Volume 64, Issue 153, 1 July 1939, Page 4

Juggling With the Dollar

RUSH METHODS IN U.S.A. United Press Association.—By Eleclrio Telegraph.—Copyright. Received Friday, 8.45 p.m. WASHINGTON, June 29. The Senate House Committees gaA'# President Roosevelt an advantage over Congressional foes to-night by Aoting to restore his power to devalue the dollar and continue the foreign silver purchase policy, but tho matter is certain to provoke a light in the Senate to-morrow when the Bill is introduced for ratification. There is the possibility of a filibuster Avhen the President s monetary powers expire at midnight to-morrow. Indications point sharply to a temporary defeat for the Administration on the monetary Bill, but there is every prospect that the two billion dollars* stabilisation fund will be renewed before the session ends. The President's remaining power to devalue the dollar may be less certain of reinstatement, however, should it lapse. Upon the strongest urgings from President Roosevelt when he hurriedly returned to Washington from Hyde Park, Administration leaders Avorked feverishly into the night trying to break the jam holding up this measure and also the 1,808,300,000-dollar Relief Bill for 2940, left with only 24 hours’ life unless new legislation was enacted. The Senate House Committees announced at midnight that they find reached a compromise agreement over the Relief Bill, and it is predicted their report will be accepted by both Houses to-morrow.