Show I PRESIDENT MOVES TO AID SILVER Strict Silence Silence Covers Actions 1 At White House Inquirers Referred to Previous Statements of Roosevelt on Money Situation cat ons Lacking on Legislation 13 Pet Press WASHINGTON May President 2 Roosevelt Is working on his announced policy for or a bimetallic money standard but the White House maintained the strictest silence Wednesday on the next moves in this direction Inquirers were referred to the several statements made by the president during the past year on the mo money ey sit sit- In these he has definitely proposed that silver share with l gold as a money base White House aides have repeatedly contended international action was required rt- rt to deal with the sliver silver problem because of its unknown quantity in inthe inthe the world markets Questions on the prospects of early action brought the response at the White House that there is hope Meanwhile there was no Indication ot of any change chance in the Roosevelt monetary mone mone- tary policy or of any sanction for lor legisla legislation tion Silver Legislation Seen This Session WASHINGTON May 2 The senate silver bloc Wednesday as- as ranged another conference with Pr President Roosevelt for tor Saturday afternoon afternoon aft aft- at which an attempt will wil be made to reach an agreement on flex lex ibl ible silver legislation at this session Senator Pittman D. D Nev said aid the conference would be for tor the purpOse se sea a of ascertaining it if the Dies bill as 35 amended by the senate agrIculture committee can be so reformed as t to tomake make more flexible the congressional mandate the president to utilize the act without embarrass ing him in any reasonable changes that might be made in the present situation sit sit- Senator King D. D Utah Wednesday confidently predicted enactment of some form of silver leg before adjournment of con con- gress My opinion is he said in an Inte in In- te view that there will be legIslation legIsla legIsla- tion before adjournment that will be reasonably satisfactory but not such uch as some of us would like Most o of us desire free coinage of the metal at a ratio of 16 to 1 with gold but that appears out of t the c question ques ques- tion now The legislation that probably will willbe be enacted will probably involve a large silver purchase program providing providing pro pro- viding a larger monetary reserve and for the issuance of silver certificates against the bullion so purchased Many o of the silver group are not satisfied with these prospects contending con con- tending that President Roosevelt wl who o ois is holding out against mandatory silver sil ver legislation without an international international agreement wIth other silver producing nations already has the permissive power to purchase large blocks o of the metal I I am getting tired of the delay on this question said one prominent Republican member of the sliver ilver group Wednesday The first conference was of no avail as the president insisted on permissive legislation and the silver group pressed their mandatory ideas Stabilization Fund P Puzzles Wall Street treet NEW YORK Ma May 2 Formal JP-Formal setting up of the treasury's stabilization fund this week has Wall street t wondering ring It sOme ome new monetary move of major moment is in the making The fund created from profit ac- ac to th the tre treasury r hr de- de valuation of the gOld dollar sass Jast an an uary may operate In the foreign exchange ex- ex change market or In the market for U. U S. S government bonds But the dollar donar has recently settled down to a 3 state ot of exemplary sta stability In the world markets and U. U S government bonds have risen to the highest prices in ye years irs So Wan Wail street sees little stabilizing to be done unless something new is impending which might momentarily disrupt the fore foreign exchange market or the market for tor government ties In that case o of course the tho treasury would want to have the fund ready to operate Setting up the fund at this time may be merely a part of a long term program and may not indicate anything any any- thing new In the offing it was pointed out in Wall ValI street |