Purchases of the Treasury, the re~ port said, had run at top speed throughout the year 1935, but never~ theless stood stil as far as practiea esulls were concerned, This was due, white moral in order to comply with the Act at the time. It was enacted, but "nineteen months later, after buying 843,000,000 ounces, the Trea sury's holdings were still 1,075:000.000 ounces short of the goal, on the basis of the Government's gold stocks at the end of the year." The terms of the Act provide that silver shall be purchased until either the price aches $1.20 per ounce or the total mount of silver reserves equals one-fourth of the gold reserves.
"The report called particular atten~ ton' to the fact that China and Hongkong, the only important adhere ents of the silver standard in. the world, had abandoned that, standard, Demonelization of the white metal, Messrs, Handy & Harman emphas-zed, had already occurred or wa threatened throughout the world today,
Text read from the printed page and cleaned; old type leaves the occasional error.