Show WORLD SILVER ACTIO I Roosevelt Roosevel Emphasizes 70 30 Ratio Depends on International International Inter Inter- national Agreement W WASHINGTON April 28 The y-The white ho house e emphasized Friday that thata a program for lor of silver on a 70 30 ratio V wIth th gold depended upon international agreement President Roo Roosevelt In seeking for forthe forthe the first time a fixed ratio of silver to gold old feels the white metal can be made a monetary basis only by w wand agreement This pro program ram he has has' told congressional leaders is s his objective and for that reason he hc is 3 attempting ng to toward toward ward of off mandatory legislation The president Is of the opinion that with silver such an unknown quantity and so much in the hands ot of private interests rather than the government and banks it must be dealt be-dealt dealt by intern n i-n agreement The basis for an understanding was laid down at the London economic conference when it was reported that world powers put aside asid a 25 per cent reserve ot of silver in relation to their gold holdings A 30 per cent figure was fixed as asa asa a maximum WASHINGTON April 28 UP- UP Silv r speculators were defended In Inthe inthe the senate Saturday by Senator Elli son D. D Smith D. D S. S C. C chairman o of the agriculture committee which recently reported the omnibus silver bill providing for nationalization oL of the metal I 1 would like e to know what right this congress has to pillory these people In the press Senator Smith said I dont don't see any turpitude Inthe in the thc fact that the they owned silver Silver Sil Sil- ver is i only a commodity It has no monetary standing yet eL |