Show Currency Collateral Proclamation Issued WASHINGTON Feb 16 P JP iV President dent Roosevelt Roose by bj proclamation has extended for two years ears the period in which federal reserve banks mayuse mayuse may mayl use government bonds as paper collateral collateral collateral col col- lateral for federal reserve notes The 40 per cent gold collateral also required was not affected by bj the I order orde r. r The power to use federal securities I as collateral would have expired March farch 6 G. Originally the federal reserve act required for the banknote issues a backing of or at 1 least 40 per cent in gold with the remainder of the collateral in eligible paper |