N.R.A. CAMPAIGN

Northern Advocate, 9 April 1934, Page 5

N.R.A. CAMPAIGN

I SILVER BILL I j SENATORS DRAFT AMENDMENT TREASURER’S WISHES IGNORED REMONETISING PLAN | (United Press Association —By, Electric Telegraph.—Copyright.) (Received 9 a.m.) LONDON, April 7. The silver agitation in Congress took a definite turn today, when a group of Senators, ignoring the wishes of the Secretary of the Treasury, Air Henry Morgen than, drafted an amendment to the Silver Bill sent forward by the House of Representatives, and declared the acceptance was assured.

Whereas the Lower House Bill was limited in .scope, the proposed amendment would remonetise silver through the nationalisation of all domestic stocks of the metal, which would be paid for at the highest daily spot price with silver certificates printed by the Government. The amendment further authorises the Secretary of. the Treasury to purchase in the world’s markets up to 5,000,000 ounces of silver a month at the price, until the old statutory price is reached or commodity prices have returned to the 1926 level. COMPULSORY CODE ULTIMATUM TO MR FORD FAR-REACHING RULING (Received 9 a.m.) • NEW YORK, April 7. The Controller-General of the National Recovery Administration, Mr MeCarl, issued an important ruling today which makes compliance with the code regulations by Mr Henry Ford and his distributors compulsory, if he wishes to tender . for Govern- - ment contracts. ! Previously, according to a loose' interpretation of the law, the Government had to prove tliai Mr Ford was violating the law to bar him from contracts. Now those who wish to do business with the Government must supply certificates of compliance with the code regulations. The ruling reopens the entire controversy between Mr Ford and the Chief Administrator* General Johnson, and the way now apparently is open to the latter >to force Mr Ford into the N.R.A. Otherwise, Mr Ford must suffer the loss of much business.

TREASURY ESTIMATES. •

LONG LEEWAY,

WASHINGTON, April 7..

United States Treasury estimates published yesterday indicate that expenditure for the fiscal year to date exceeds five billion dollars, with an estimated deficit of 2,600,000 dollars.