PRICE OF SILVER
INCREASE IN AMERICA LITTLE IMMEDIATE IMPORTANCE WASHINGTON, April 10. (Received April 11, at 7 p.m.) Mr Roosevelt has increased the price which the Treasury will pay for newly mined silver from 641 cents to 71, the increase to become effect.ve on production dating from April 10. While “ silver senators” expressed pleasure, it was felt that 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 2.866.580.060 dollars would be required. of which the Treasury bad on April 8 only 015,613.002. but the present action had little relation to that.
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Otago Daily Times, Issue 22545, 12 April 1935, Page 9
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132PRICE OF SILVER Otago Daily Times, Issue 22545, 12 April 1935, Page 9
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