Show I Text of Presidents President's Silver Pr Proclamation dam tion Br By Associated PUll Press WASHINGTON Aug 9 The 9 The text of or President ent Roosevelt's Roosevelt proclamation proclamation proc proc- nationalizing silver follows follows fol fol- fol lows Whereas by paragraph 2 of section 43 title III of the act ct of ot congress approved May 12 1933 public No 10 as amended by bythe bythe bythe the gold reserve reserve act of 1934 the president is authorized by proclamation proc proc- to fix the weight of ol the theold gold old dollar in grains tenths nine fine ine and also to fix the weight of oC the silver dollar in grains nine nine- lne- lne te tenths fine at a definite fixed ratio to the gold sold dollar at s such ch amounts as he finds linds necessary I from his investigation to stabilize domestic prices or to protect the foreign commerce against the adverse ad adverse verse affect of ot depreciated foreign foreign foreign for for- eign currency and to provide for forthe forthe forthe the unlimited coinage of such gold and silver at the rate so fixed and the president in addition to the authority to provide provide provide pro pro- vide for the the- unlimited coinage of ol silver at the rate so fixed under under under un un- un- un der such terms and c conditions as ashe ashe ashe he may prescribe is further authorized to cause to be issued and delivered to the of silver stiver for or coinage silver certificates c cates tes in lieu of ot the standard dollar dol dol- dollar lar Jar to which the would be entitled d and in amount in dollars dollars dol dol- lars equal to the number of foreign foreign for for- eign standard silver dollars that the of such silver for cor coinage would receive in standard standard stand stand- I ard silver dollars dollars' and the president president president dent is further authorized to issue silver certificates in such denominations denom denorn- as he may prescribe against any silver bullion silver or standard silver dollars in the treasury not then held for redemption redemption redemption re re- re- re of any outstanding silver silver sil sil- silver ver certificates and to coin standard standard standard stand stand- ard silver dollars or subsidiary currency for lor the redemption of of oc such silver certificates and nd Quotes Silver Sliver Act Ad Whereas the silver purchase act of 1934 approved June 19 19 1934 provides provid s in sections 2 5 and 7 7 in part as follows Section 2 It Is hereby declared de dc- dee dared to be the policy of the United States that the proportion proportion proportion tion of ot silver to gold in the monetary stocks of ot the United States should be increased with the ultimate te objective of having and maintaining one-fourth one of the monetary value of such I stocks in silver Section 5 The secretary of the treasury is authorized and dir directed to issue silver certificates certificates certificates cates in such denominations as he may from time to time prescribe in a face cace amount not less than the cost of all silver purchased under the authority of ot section 3 and such certificates shall be placed in actual circulation There shall be maintained in the treasury as security for tor all aU silver certificates certificates' heretofore or hereafter here here- after alter issued and at the time outstanding out outstanding standing an amount of silver in bullion and nd standard silver dollars dollars dollars dol dol- lars of a mon monetary value equal to Continued on Page Palte Two Text of Presidents President's Silver Proclamation Continued from Past Page One the face amount amoun amount ot of such silver slIver certificates All silver certificates I- I cates heretofore or hereafter is issued issued Is is- sued shall be legal tender for all AU debts public and private public charges taxes duties and dues and shall be redeemable on demand de mand at the treasury of the United Stat States in standard silver dollars and the secretary of at the treasury is authorized to coin standard silver dollars for such redemption Authority Cited CUed Section 7 Whenever In the judgment of the president such action is necessary to the policy of this act he may by executive order require the delIvery delivery delivery de de- de- de livery to the United States mints mint of any ny or or all all silver sliver by whomever owned or possessed The silver slIver so 30 So delivered shall be coined Into standard silver sliver dollars or otherwise otherwise other other- wise added to the monetary stoc stocks of the United States Slates as the president ro may y determine and there shall shan be returned in standard silver dollars dollar or any other coin or currency of the United States the monetary value of ot the silver ilver so o delivered IC less such deduction for e. e coinage and other mint charges as the secretary of the treasury with the approval of ot the president shall have determined Provided that in no case cas shall haU the value of the amount returned be lc less than the fair lair value at the time of such order order- o of the silver required to be delivered delivered de de- livered as such value is 13 determined determined determined deter deter- mined by the market price over overa a reasonable period terminating at the time of ot such uch order Mints 1 to to- Buy Silver Sliver Now V. therefore finding it necessary in my judgment to effectuate the policy of ot the allver silver all sil ver purchase act of 1934 to as assist u. u sid in increasing and end stabilizing domestic prices to protect our foreign commerce against the adverse adverse adverse ad ad- verse effect ded of depreciated foreign for for- eign elin currencies and to promote the objectives of the proclamation tion of at the day of ot December 1933 relating to the coinage of silver by virtue of ot the power in me vested by the acts of ot congress congress con con- gress gross above cited and other leg leg- illation designated for national recovery and by virtue of all other authority in me rae vested I Franklin D. D Roosevelt presIdent pres pres- Ident of the United States of America do proclaim and direct that each United States mint shall receive for lor coinage or for tor addition to the monetary stocks stocka of ot the United Stales States AS hereinafter hereinafter here here- matter determined any silver which such mint subject to regulations reg rei prescribed hereunder by bythe bythe the secretary of the treasury is b satisfied W was U situated on the effective effective ef ef- date hereof in the continental conti continental United States including the territory of Alaska Coinage Planned The silver sUver xo so delivered shall hall be added to the monetary stocks of the United States and shan shall be coined from time to time into standard silver sHyer dollars in such amounts as u are required to carry carryout carryout carryout out the provisions o of this thu proclamation proclamation procla procla- ma mation tion and to provide for the redemption of silver certificates and there shall be returned returned there for in standard silver dollars auver silver sil au- ver certificates or any other coin or currency of the United States the monetary value of the silver so delivered that is Js a afine afine atine fine tine troy ounce less a deduction of 61 25 8 25 per cent thereof for coinage and other mint charges such deduction de dc deduction having been determined by the secretary o of the treasury with my approval The provisions hereof are supplemental supplemental sup sup- Up- Up to the provisions of th the proclamation of the day of December 1933 and the United States coinage mints shall continue to receive for lor coinage in accordance with the provisions of or such proclamation silver lver which such mint subject to regulations reg reg- prescribed by bythe bythe bythe the secretary of the treasury is is' satisfied ha has b been en mined subsequently subsequently ube to the date of such proclamation proclamation proc proc- from natural deposits deposit in the United d States or any place subject to the jurisdiction thereof there there- thereof of provided however that the director of ot the mint shall at the option of the of at such sliver silver deliver silver certificates in lieu of the standard silver dollars dol lars Jars to which the of such silver for coinage would be entitled and in an amount in dollars dollars dol dol- lars equal to the coined standard silver dollars that the of such silver for coinage would receive In standard silver dollars dollar Prescribe Regulations The secretary of the treasury is La authorized to pres prescribe ribe re regulations regulations regula regula- ula to carry out the purposes of at this this' proclamation Notice is hereby given ilven that I reserve the right by virtue of the authority vested vented in me to revoke re re- re voke yoke or modify this proclamation as the interest of the United States may s seem m to require This proclamation shall bear the date of of and becomes effective slice tive on on the day on which the secretary or acting secretary of the United States countersigns the same affixes ther thereto to the seal of at the United States and deposits depos depos- 11 its this proclamation so countersIgned countersigned counter counter- signed and sealed in the office of the secretary of state tate as part of or the archives of the nation In witness whereof I have hereunto set my hand FRANKLIN D. D ROOSEVELT By the president and countersigned countersigned coun coun- and sealed with the seal of at the United States State by direction direction di di- of the president this day of August in the year of our Lord 1934 and of the Independence independence dence o of the United States State of America the one hundred and fifty ih CORDELL HULL Secretary of State |