Show Silver Gets A Break Mondays Monday's press dispatches gave the following regarding silver The house coinage committee approved ed a n bill today to continue for two years the tho treasury's stabilization fund and the presidents president's power to de devalue de- de devalue devalue value the dollar further The Tho measure also would renew for two years ears the presidential authority to pro pro- vido for unlimited coinage of silver and the purchase of newly mined domestic I silver slIver at a 11 price above the world level I Under present law the three mone mono monetary tary powers would expire next Juno Before approving the bill by a vote which members said was 9 to 5 along 5 along party lines the lines the committee wrote In an amendment to require the treasury to report to congress once a year on opera opera- operations operations of the stabilization fund Committeemen said they expected a fight Tight when the bill reaches the house floor against the sliver silver purchase and dollar devaluation provisions Opponents of ot the latter chiefly Republicans have contended the existence of or authority to alter the gold content of the dollar had hadan an un unsettling effect on business This above action meets with the approval of ot the mining operators of the west as Indicated by Geo W. W Snyder who said It gives gl es the president power to move now low as he should move said George W. W Snyder vice president of W. W F. F Snyder Sons and Snyder Mines Inc This was the only sensible thing for I the he committee to do he said Out trouble rouble has been mostly monetary I J trouble rouble Mr Snyder asserted the equalization I fund und the revaluation of or the dollar and the he silver sliver purchase act have been the most profitable moves of ot the New Deal government and have greatly enhanced foreign trade He indicated the bill would serve to maintain the present purchase price of ot silver liver at cents an ounce or or im- im improve prove rove It it I Our hope now is that the treasury will soon announce its policy polley on new prOduction reduction in hi order to avoid confusion |