Evening star., 1933-12-27

| S55 PAS 900. as compared with exports
of s125so, 900 and imports of l8,447 900
In the same period last year.
President RooSevelt's budget message
is expected to ask $4,000 00O, 900 for
regular expenditures and more than
s3'ooo'ooo'ooo in emergency funds.
May Outline Money Plans.
In his annual message, to be read on
the opening day OF Congress, many OBJ
servers expect the President to speak OF
monetary matters, possibly giving def
mite outlines to his currency plans.
Should he do so. monetary debate on
Capitol HN would be .preciptated
quickly
Indications were plentiful today that
the Chief Executive intended to ask
/ Congress for but few changes il the
general recovery machine. There was
speculation, however. that some move
might be in the offing in connection
with the gold-buying plan. Mr.. Roose-
welt recently hinted at international
action to stabilize world currencies on
gold basis.
Senator Reed told newspaper men
yesterday he felt the President had
made -four mistakes" in his monetary
activities. He predicted that unless Mr..
Roosevelt took definite stand against
imitation there would not be enough
votes to stop currency debas
The Pennsylvania asserted there had
not been so far ANY real imitation" and
added:
1T is not too late for the President
to put down his foot and say, No. we
won't do it, If he were to do that
there would be an outburst of conf
dence such as we have not seen in the
United States since the depression set
tied down. And there Is nothing we
need so much at the moment as con-
f1dence ir the future"
Predicts Battle.
Predicting. nevertheless, that there
would be a currency battle when Con-
gress meets, Reed listed what he called
the Presidents four monetary mis-
takes" aS using his influence in favor
of the Thomas imitation amendment
asking Congress to ''repudiate the gold
clause in Government securities" adopt
ing q policy Of buying gold above tn
world market price. which, he added
seems to have failed" and adopting q
policy for buying and coming newly
mined silver
While Republican leaders at the Car
itol expected to develop in their forth
coming conferences decision as to
"AiSeiASA Vic lllilOlIIy party VIII ueldN
or launch Immediately an attack on the
administrations program, the President
had all Federal agencies preparing re-
ports on present conditions.
Mr.. Roosevelt expects to place before
Congress last-minute indices on busi-
ness and economic trends as seer
through the eyes of the Federal Reserve
System, the N. r. A.. c. w. A. ana
P. w. A.. as well as all other arms CT
his administration.
Warns on Silver.
Warning of possible bootlegging i0
silver under the Presidents silver-buy-
ing plan was given yesterday by Sen
ator Wheeler. Democrat, OF Montana
Wheeler said it would be easy to ado
old silver to the new to obtain the
Treasury price Of 641a cents that is in
tended only for newly mined metal.
One Of the difficulties of the situa-
ton, Wheeler said, was the two doues
tic prices, the market price for old
silver and the Treasury price for the
new.
1T affords opportunity" he said. "for
smelters to bootleg silver and lt win
be extremely difficult for the Govern
ment to prevent this from being done.
for the reason that silver bullion could
be very easily added In the refining
OF the metal and thus raise the silver
content.
Il do not feel that the smelling
companies would do this. but there il
always a possibility that unscrupulous
persons would attempt it,