Salt Lake Telegram | 1934-08-10 | Page 2 | Here is How Government Silver Program Works

Here H ere Is How Government Silver Program Works I WASHINGTON Aug 10 UP UPI UP- UP Here Is Ls how the governments government's silver plan works out John Jo Jones es a silver holder has hM I I ounces ounces of silver He i. i Is compelled I to deliver them to a government mint min within 90 days das under the presidents president's nationalization order At the mint he is paid cents per ounce for his holdings despite a monetary value of per ounce for silver The government retains retain the balance for and other othe expenses Jones is paid in silver coins or si siver sn- sn ver certificates for his holdings because because be be- cause gold is embargoed The treasury then issues new si siver sit slI ver certificates up to the cost o oJones' oJones or of Jones Jones' silver retaining the balance against which more snore certificates can be bo issued The price for newly mined silver which is exempt from the national national- ruling was WaB fixed fLed at 61 64 Vi cents per ounce December 21 1933 but th the same pro procedure has been en followed b by p the treasury in issuing certificates certificate against it iL Th This will be continued