Show MONEY POLICY NOT YET FIXED T Treasury Treasur I Needs More Time Timeto to 10 Learn Its Full Ful Effects Says WASHINGTON March Marc 1 Thc P a administrations administration's desire to try pr present nt m monetary plans for at least the remainder re re- m maider of ot this thi fiscal cal year before a axed fi fixed policy is determined upon was c conveyed to congress congre today by Secre ta tary try ry Testifying to a house hou subcommittee o on n a bill bi to establish a central federal c currency authority he said The Te country has ha just come through o one ne of the snort most mos difficult financial c rises crises crise it i ever had and we are arc just b beginning to see a n little light Ight It I is i impossible to tell tel what the f future will wi be b. b I believe beleve that we need needmore needmore needmore more experience and time to t tell tel us u the best way to handle monetary mone t tary ary problems before we get into anything anything any any- t thing hing specific or definite as a is i contemplated con tt t perhaps in this bill bil I dont don't know of anyone who is i ismart 5 s smart mart enough to tell tl us u exactly where we will wi be or a 3 year from 1 now v He said that since February 1933 the world gold price had risers risen rien 6 62 6 B 8 per cent and ad farm products product 57 per percent percent e r cent cent I Asked Aked by Representative j ham D. D Nev whether the present silver siver program had had any appreciable appreciable cable effect on world prices or the purchasing power of other nations naton replied We have been unable to so separate separate separate sepa sepa- rate things that we could say that siver silver alone had this thi effect or that effect on prices He added that the United States State purchase program called caled for only a 8 relatively inconsiderable amount of silver siver but contended that if all 21 countries countries cou- cou coutie coun coun- tries tie ratified the world silver siver agreement agree ment that cant can't help but have a beneficial bene benc effect Representative Dies Die D. D Texas Texa told the house that inflation through the use us of silver siver would restore commodity com corn prices and prosperity in i this th I country He advocated silver legislation legisla t tion n at this thi session saying that it i could be used in controlling inflation The Te house houe banking committee approved ap ape proved the Fletcher Fietcher bill bi extending ex cx tending until March 3 1935 the te period during durig which government securities can ca be used as a collateral for federal federa reserve notes note Meanwhile Secretary said the treasury would have an announcement early next week on March 15 financing plans |