Salt Lake Telegram | 1934-05-22 | Page 1 | Note Shows Steps Taken for Silver

Note Shows 1 Steps Taken For Silver I WASHINGTON 1 May 22 UP UP-In UP In Ui g his silver plan designed to calm the congressional silver storm Mr Roosevelt today revealed that 1 Foreign silver has been purchased pur purr chased with some proceeds of ot the stabilization fund Cund creat ed from part parl of the treasury's profit through nationalization of ot gold 2 Conferences had begun with some of our neighbors regarding coordinated coordinated co co- co ted bimetallism bim The president proposed 1 Legislation declaring it to be the policy of ot this government to increase e silver lve in monetary stocks until the ratio is 25 23 per cent silver ilver to 75 per percent percent cent gold 2 That he hc be authorized authorized and lan l'an and directed direct direct- cd ed b by congress s to make silver purchases purchases pur pur- chases nece necessary sary to attain this ultimate ultimate ulti ulti- mate objective Taxes Profits 50 Per Cent 3 Limitation of 50 cents per ounce on the thc price which may be paid for accumulated domestic silver 4 Authority be given him to nationalize nation naton- alize silver on payment I of at just compensation 5 Provision for a 50 per cent tax on profits from s silver lver speculation