Washington, June 29.
A joint conference between members of the Senate and House of Representatives today voted to restore ihe Presidential powers to devalue the dollar and the Administration's authority to buy foreign silver.
"The conference also fixed the price for newly-mined domestic silver at 70 cents an: ounce.
The agreement on the silver question and on the Presidential devaluation powers will have to be ratified by both Houses before it is forwarded io the White House for signature.
Prior to the conference agreement, the Administration is understood to have informed Congressional Ledfers that it would have preferred to allow the provisions of the Monetary Bill expiring on June 30 to lapse, rather than to seek an immediate extension.
The Administration, it is also reported, would then have endeavoured to have the provisions relating to the Stabilization Fund re-enacted, but would have foregone the power which the President now enjoys to devalue the dollar by a further nine cents—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.