Washington, Aug. 9.
Reports that two college prow fessors who were assigned by Presic dent Roosevelt to devise a plan, if possible, for converting. short-term Federal' obligations into long-term loans, had almost. completed their task ' was believed here to. be responsible for rumours. that an carly move is to be made in regard to the country's currency.
previous announcement had been made that more direct atte tion would be devoted to the stabilisation of commodity prices, hence the stabilisation of the dollar in te-lation to purchasing power may. made after re-financing questions were out of the wi While the re-financing questions axe not immediate, the President thought that, if the short-term obligations, comprising about thirty Per cent. of the entire national debt of 6.$22,000,000,000, were converted, the "Treasury would at all tim know how much its money was coal ing and the maintain ance of a st purchasing power for the. dollar would be far easier.
The men engaged for this task, Professor James Harvey Rogers, of Yale "University, and Professor George F. Warren, of Cornell, University, ave reported to have devised a plan for lengthening the terms pf the maturing obligations without placing too heavy a burden on the banking system" and without dis turbing general financial conditions, The economists were assigned to study plans for stabilizing the dol" lar's' purchasing power but the assignment did not necessarily me clude making recommendations regarding the revaluation of the dole lar—United Press,
Text read from the printed page and cleaned; old type leaves the occasional error.