Evening star., 1933-04-25
Pennsylvania Says Grant to
President Under Bill Is
Unconstitutional.
COMPROMISE SOUGHT
ON GOLD AND SILVER
Campaign Speeches of Chief Ex-
eeutive Cited in Argument That
Proposal Is Unsound.

In a speech assailing the administra-
tion's imitation proposal, Senator Reed.
Republican, Of Pennsylvania. told the
Senate today the power proposed to be
given the President was unconstitu-
tional and terrible power to grant
an individual"
Taking the floor as attempts got
under way to compromise the gold and
silver clauses whereby the Republican
regulars would agree to free coinage or
huge purchases OF silver in return for
elimination of the gold content reduc-
ton, Reed called the imitation program
the most unwise act that could be
conceived Of
He quoted from President Roose-
velt's campaign speeches and the
Democratic platform assuring the
country the Democratic party would
stand for sound currency, and as
serted nothing could be more unsound
than the pending proposition.
Republican anti-inf1ationists in the
Senate sat back for the most part yes
terday and took in with some glee the
action of Senator Tydings, Democrat. Of
Maryland in breaking with his party
leaders and taking q determined stand
against the Thomas imitation amend
ment to the farm bill.
Tydings assailed it as leading America
to policy of isolation" asserting that
I'VE are saying good-by to the rest
Of the world" This attack. however.
did not diminish the confidence Of
would be jammed through without
change.
Silver Vote First.
Reed said he saw no reason why vote
should not be reached by tomorrow
night. The Democratic leaders want
the imitation amendment hurried along
so as to be Of assistance to the Prest-
dent in his international efforts for .
revised gold standard.
Senator Borah, Republican, Of Idaho.
an inf1ationist, proposed informally yes
terday that the new currency that could
be issued under the imitation scheme
be used to pay of so per cent Of the
deposits in closed banks, but the sug-
gestion was not treated seriously BY
the Democrats.
The first amendment to the imitation
bill that will come up for vote Is thas
of Senators Wheeler. Democrat. Of Nom
tana. and King. Democrat. Of Utah, EN-.
powering the President to remonetize
silver at a ratio with gold to be fixed
by the Chief Executive and also provid.
ing for free coinage. Wheeler has indi.
Gated he has administration support for
this change.
White Bill Before House.
Meanwhile. in the House new silver
bill was sent to the Coinage Committee.
It was by Representative White. Demo-
crat. of Idaho. and would remonetize
silver by directing the Treasury Secre-
tary to accept deposits OF silver bullion
at the market price OF silver and issue
! therefor legal tender silver certificates:
Under the provisions Of my bill"
White said, I'VE will broaden the base
of metallic money in our Treasury re-
serves without cost to the Government.
This measure will enhance the value
of silver and will raise the purchasing
power of the people Of the silver-using
countries and thus provide a bigger out
let for our products"
The bill also provides that If at any
time the amount of silver bullion &C.
quired by the Treasury becomes less in
value than the face value Of all certifi-
Gates outstanding, the Treasury might
expend as much as 500 900 900, if nee
essary. to purchase additional silver bull
lion to bolster values of the certificates.
Senator Thomas, Democrat, of Okla
homa. led the forces advocating the bill
throughout the afternoon yesterday.
Borah questioned the constitutionality
of that phase of the amendment which
is intended by Democratic leaders to
give President Roosevelt an effective
weapon in his effort to obtain world
wide currency stability. This is the
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