Washington, Jan. 1.
President Roosevelt reduced the price of silver mined in the United States from 7757 to 64:64 vents an ounce, in a proclamation issued to-
This reduction will hold paci until December 31, 1938, but the President has reserved the right to revoke or modify it at any time. The new price affects only silver mined after last night.
A change if any, in the United States Treasury's price for foreign silver will not be known until the Government posts its bid at New York at noon, local' time, on Monday.
Neither President Roosevelt nor Mr. Henry Morgenthau, the Secreta of the Treasury, has made an explanation of the reduction.
Tt was announced to-day by Mr: Henry Morgenthau that the present Exchange Stabilization Agreement with Mexico will be maintained. The Agreement provides for a ratio of silver purchasing understandings with both Mexico and Canada will be extended throughout 1988, and not only during the month of January as previously indicated.—Reute:
Text read from the printed page and cleaned; old type leaves the occasional error.