1, A mandatory provision dectat ing' a policy of recognizing silver primary money and stating that the metallic reserves shall be 25 per cent. silver, and 7 per cent. gold.
2, The Treasury Department shalt be "authorized and directed" to purchase silver until it either reaches a price of $1.29 an ounce or the metallic reserve reaches 25 per cent. of the total reserve.
The President will be authorized to nationalize silver through condemn ation, It was noteworthy that the proposed legislation does not commit the President to definite silver purchases in the open market at specified times.
Conclusion of this conference with {ts decisive action and compatible post-conference statements was contrast to the previous conferences when statements issued later revealed widely divergent versions of what had been decided.
President Roosevelt also revealed that ho hopes to send a special message to Congress next week regarding war debts but it was. consi dered improbable that he would men-sue In connection with silver
Text read from the printed page and cleaned; old type leaves the occasional error.