Show 9 NATIONS SIGN SILVER ACCORD Pittman Price Stabilizing Plan Adopted at Secret Meet By fly HERBERT ERBERT MOORE l Copyright 1933 by Unit United d Press LONDON July 22 Nine 22 Nine nations producers of silver or holders of siler siler silver sil- sil er ver bullion signed a n year four our ear silver control agreement at a secret meeting meeting meet- meet ing ng late today in the suite of Senator Key Pittman D. D Nev American silver liver expert at the world economic conference World economic conference e dele dele- gates cats of Canada Mexico Bolivia Boll Peru eru Spain India Australia and China signed in addition to Pittman Pitman YEAR FOUR-YEAR TERM TERrI The agreement Is to run for tor four tour years ears cars from January 1 The necessary ratifications allocations before belore the agreement can an be binding on the governments concerned must be deposited at Washington not later than April Apil 1 I. I 1934 The agreement binds the Indian government not to sell more than fine line ounces of silver dur- dur during during ing ng the agreements agreement's life lite wi with h an average annual quota of ounces The Spanish government is not to sell ell more than ounces an- an The Chinese government go is not ot to sell any silver resulting from demonetized coin The governments of ot Australia Bolivia Bolivia Bo- Bo livia ivia Canada the United States Mex- Mex leo Ico co and md Peru undertake not to sell any ny silver and aggregately to purchase purchase pur- pur chase fine tine ounces annually from rom their own own mine production AMOUNTS IMPOUNDED This amount would be impounded in their respective treasuries to be used for currency purposes either cither coinage or currency reserves Conclusion of the agreement was re regarded as a a personal triumph for tor who had battled continuously continuously continuously since the world economic con conference con con- ference opened to get set the holding countries to agree acree to limit sales of oC surplus silver and nd to get the producing ing countries to buy an amount equivalent equivalent equiv equiv- alent to the amount the three holdIng holdIng hold- hold Ing countries would undertake to sell annually thus establishing price sta sta- |