Evening star., 1933-12-22
~ the Associated Press.

BY the Associated Press.
The text of the silver proclamation:
BY the President of the United States
Of America, a proclamation.
Whereas, by paragraph (2) OF section
43, title 8, of the act Of Congress, ap-
proved May IL, 1888 public No. 10),
the President is authorized "by procla-
nation to fix the weight of the gold
dollar in grains nine-tenths fine, and
also to fix the weight Of the silver dol
lar In grains nine-tenths fine at def
mite fixed ratio in relation to the gold
dollar at such amounts as he finds
necessary from his investigation to
stabilize domestic prices or to protect
the foreign commerce against the ad-
verse effect of deprecated foreign cur
rencies, and to provide for the unlimit-
ed coinage of such gold and silver at
the ratio so fixed, ~; and
Whereas, from investigations made
by me. find 1t necessary, in aid of the
stabilization of domestic prices and in
accordance with the policy and pro-
gram authorized by Congress, which
are now being administered. and to pro-
tect our foreign commerce against the
adverse effect of deprecated foreign
currencies, that the price of silver be
enhanced and stabilized; and
Whereas, resolution presented by
the delegation of the United States OF
America was unanimously adopted at
the World Economic and Monetary Con-
ference in London July 20, 1888, by the
representatives of 66 governments,
which in substance provided that said
governments will abandon the policy
and practice of melting up or debasing
silver coins; that low valued silver cur
rency be replaced with silver coins and
that no legislation should be enacted
that will depreciate the value OF silver;
and
Agreements Made.
Whereas a separate and supplemental
agreement was entered into, at the in
stance of the representatives of the
United States, between China. India and
Spain, the holders and users Of large
quantities of silver, on the one hand,
and Australia, Canada, Mexico, Peru
and the United States, on the other
hand, as the chief producers Of silver,
wherein China agreed not to dispose of
any silver derived from the melting up
or debasement of silver coins, and India
agreed not to dispose Of over 35 900 900
ounces of silver per annum during a
period of four years commencing jan
uary /, 1894, and Spain agreed not to
dispose of over 100000 ounces of silver
annually during said period, and both
of said governments agreed that at the
end Of said period of four years they
would then subject themselves to the
general resolution adopted at the Lon
don Conference, and in consideration OF
such limitation it was agreed that the
governments of the five producing coun-
tries would each absorb from the mines
in their respective countries a certain
amount of silver, the total amount to
Be absorbed by said producing countries
being 35,000,000 ounces per annum dur
ing the four years commencing the 1st
day Of January, 1894; that such silver
so absorbed would be retained in each
Of said respective countries for said Pc
riod Of four years, to be used for COIN
age purposes or as reserves for cur
rency. or to otherwise be retained and
kept off the world market during such
period Of time, it being understood that
Of the 35,000,000 ounces the United
States was to absorb annually at least
"a, ,421 ,41O ounces of the silver produced
in the United States during such period
Of time.
Necessary for Prices.
Now, therefore, finding it proper to
cooperate with other governments
and necessary to assist in increasing and
stabilizing domestic prices, to aug
ment the purchasing power of peoples
in silver-using countries, to protect
our foreign commerce against the
adverse effect of deprecated foreign
currencies, and to carry out the un-
derstanding between the 66 govern
ments that adopted the resolution
hereinbefore referred to; by virtue of
the power in me vested by the act of
Congress above cited, the other legis-
lation designed for national recovery.
and by virtue of all other authority
in me vested;
I, Franklin D. Roosevelt, President
Of the United States of America, do
proclaim and direct that each United
States coinage mint shall receive for
coinage into standard silver dollars
any silver which such mint. subject
to regulations prescribed hereunder
by the Secretary of the Treasury, is