OCR Text |
Show SILVER-IMPORT WILLMNTINUE WASHINGTON, Dec. SO W) Secretary Sec-retary of the Treasury Morgenthau announced today the treasury had agreed to continue buying silver from Canada, China and Mexico at least through January. Th Mexican arrangement for January had been disclosed earlier this week, Morgenthau aald today th same treatment would be extended ex-tended to Canada. He also announced that the long standing agreement by which the United States promised to buy silver from China, with that nation buy-had buy-had been extended until July 1, 1938. The secretary said th Mexican and Canadian agreementa merely provide that the United States will buy up to fixed amounts of newly mined silver from those countries at prices to be determined next month. In the last ysar the price has been 45 cents an ounce, compared with 77X7 cents an ounce the treasury pays for new silver mined in the United States. This domestic price expires tomorrow to-morrow night unless extended by President Roosevelt. Ths president has said he would announce some action before the deadline. In the last three years the United States has also purchased ailver from many countries other than those covered by today's announcement, announce-ment, but Morgenthau said no formal for-mal understanding guided those purchases. |