The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1934-01-04


year. at a price of G4k cents an
ounce. This is to be in force for four
years.
The government split the present
loyal price of $1.29 an ounce for sill
yer in half in reaching a purchase
figure which is 10 cents an ounce
over the present open market. 49,.
"This proclamation" the President
wrote. "in accordance with the act
of congress, opens our minis to. the
coinage of standard silver dollars
from silver hereafter produced in the
United States, or it's possessions, sub
iect to the depositors of such silver
surrendering to the government one
half of it as seigniorage and to cover
all usual charges and expenses. The
dollar coined from half of such newly
mined silver will be returned to the
depositor. The half surrendered to
the government will be retained by
the treasury"
Mr.. Roosevelt, in ratifying the
agreement, pointed out that such &C
ton already has been taken by the
government of India and that other
nations concerned were ready also to
act
Most jubilant of all public men
over the Presidents action was Sena-
tor Key Pittman Of Nevada, who, as
a delegate to the London conference,
took a leading part in drawing up
the silver agreement. He foresees
greatly increased export business as
result of the move because the buy
ing power of the silver-using coun-
tries of the Far East, especially
China and India, is lifted by about so
per cent. ..-<". ~.
Senator Pittman said the effect Of
the new order would be to take into
the treasury about 24,O00,O00 ounces
of silver, to coin one-half Of it and
deliver it to the owner or deposition
of the silver. The other so per cent
will be retained as bullion in the
treasury. 1t is his expectation that
the new order Of the White House
will give great encouragement to the
silver mining regions of the West.
DOTH the federal Surplus Relief
y corporation and the agricultural
adjustment administration have been
purchasing commodities for the relief
Of the idle, and thereby economy and
efficiency have suffered. Such pur-
chasing operations have now been con-
solidated in the Surplus Relief corpora
tiOn. SO.
The administration also was COM
pleting plans for utilizing the Surplus
Relief corporation as device for re-
firing millions of acres of submarginal
lands from cultivation. The work is
being directed by Rexford G. Tug
well, assistant secretary of agricul-
ture, and it is planned to use funds
of the public works administration to
purchase the economically unproduc-
tive areas.
FFICIALS of 21 railroad unions
met in Chicago and adopted pro-
gram OF desired legislation that in
Guides six-hour working day for the
million or more railway workers in the
country as means of increasing en-
ployment. II
a. F. Whitney, president of the
brotherhood of Railway Trainmen.
VINO acted as chairman at the meet
ing, estimated that a six-hour day
would cost the railroads Of the coun-
Try S3OO,OO0,OO0 annually. The rail-
roads themselves have estimated the
PROBABLE cost at twice that amount,
ne admitted.
4 tTER receiving a report from an
. investigating committee headed
W robert S. Lynd, the consumers adj
fisory board of the NRA recommend
Gu the establishment Of a consumers
standards board that would be charged
WIN the development of means Of en-
aofelng accurate labelling. Among the
arueles named as needing quality grad
ins are gasoline, razor blades and chill
urens shoes. Legitimate industry, in
Tue opinion of the board, is encounter
ns destructive competition from un-
ethical producers who are reducing the
quality OF their products to fill the gap
~ tneir profits caused by enforcement
ards.
administrator Hugh S. Johnson was
Dusy trying to clear up the situation
s.ooncerning the cleaners and dyers.
aany In this industry had been cited
- Luz prosecution for refusing to COM
r with prescribed minimum prices.
.ne cash-and-carry cleaners contend
81 tneSe prices were so high that their
BUSINESS would be ruiNed.
Johnson defended the prices pre-
seiiped as reasonable and fair for the
Ssuaiitv OF cleaning which the public
EOS as tne right to expect" but conceded
uat tnere is some demand for lower
4uaiity or so-called scamped work"