Show U. U SI S. TO CHANGE SILVER POLICY Buying Plan Will Be Modified to Check Drainage of Metal From China SHANGHAI Jan 7 The 7 The United States will modify its world silver purchasing pro program ram in order to aid China in checking the flight of ol the metal metat it II was learned toda today Se Secretary of the Treasury Henry has assured the Chinese that he will seek means other than drastic price increases to carry out the American silver policies it was reported It was as not revealed however what whal mcalis means plans to lo use me to avoid draining China of its stocks of ol the white while metal which forms the basis of ol her hel currency S The agreement purportedly was reached at Washington conferences in which Secretary of State Cordell Hull and Alfred Sze Chinese Chinese Chinese Chi Chi- nese ambassador to the United States participated When the United States treasury treasur entered the world silver market offering offering of of- fering a new high price for the metal Chinese holders of oC silver sold their stocks readily The drain became so heavy y that it threatened to upset Chin Chinas China's i monetary system stem H H. H. H Kun Kung minister of finance made several protests pro tests to President Roosevelt t and the conferences followed In an effort to ch check ck the flow now China imposed an equalization charge placing a levy varying from 55 to per pcr cent on silver exports ex ox- ports pods In addition to the regular export levy on bars and coins and the 10 per cent enl assessment on lumps of silver slIver used in Chinese ex cx- change I |