The Archive · 1938

U.S. Again Cuts Silver Purchasing Price

Total Withdrawal from Market Not Unlikely

Washington, Mar. 29.

In what is believed to be another retaliatory measure against Mexico, the Department of the Treasury today reduced the foreign silver price to 43 cents an ounce, the lowest price since January, 1936.

Some financial circles asserted the United States might withdraw from the world silver market while simultaneously continuing the substantial bounty to domestic silver producers to placate the silver bloc in Congress.

The. withdrawal from the world market, it was conceded would result in a severe down trend for silver.

Any readjustment of the silver price, it was believed, might lead to further manipulation of foreign currencies United Press, the time of the Shanghai hostilities, when it had to be*evacuated.

The chairman of the home, Mrs.

G. H. Piercy, had left her home in readiness for the Convalescent Home of children should the necessity arise. All of the children, 33 in number, moved in there on the afternoon of October 14, and another house in the same compound was secured to provide sleeping accommodation for some of the older children, Especial mention is made in the report of the heroic manner in which Miss Reid conducted the evacuation from the home, The children moved back to the home on November 20, after necessary repairs had been made.

Text read from the printed page and cleaned; old type leaves the occasional error.

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