Washington, May 31
By a margin of 263 against 77, the House of Representatives to-day passed the Silver Bill which was drawn up by members of the Senate silver "bloc" in an effort to "do something for silver" during this! session of Congress.
The BIl provides for the increas ing of silver stocks in the United States and permissively authorizes President Roosevelt to take over the nation's monetary silver stock.
Secondly, it authorizes the Secretary of Treasury to purchase silver the home market and from abroad at such rates, times and terms as may deem reasonable and most advantageous to public interest. Domestic purchases will be limited to 'a price of $0 cents an ounce on stock He fs also authorized whenever the market price of the white metal exceeds the monetary value, or when the mone. tary. stocks are greater than the 25/18 ratio to gold.
Thirdly, he is authorized to issue silver certificates of face value not Tess than the cost of all the silver purchased.
Further, the Secretary of Treasury. vill regulate, investigate and pro~ hibit the acquisition, importation and transportation of silver, and will penalize violators of the regulation.
a fine of $10,000 or to the extent of ten years' imprisonment. He is authorized to issue whatever regulations he deems At in order to carry out the purposes of the Bill.
Some of the Democratic members, who supported the Bil, claimed that it needed a complement in the Government gold policy in order to Increase commodity prices and foreign trade—Reuter.
Washington, May 31, The Senate will take up the Sliver BIll as soon as it has disposed ing to announcement of the Ways and Means Committee to-day—United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.