Action by Federal Reserve System Advisory Council Washington, Feb. 21.
Additional opposition to continuance of the Administration's fend silver purchase programme is [M the latest action of the Advisory Council of the Federal Reserve System, The Council has asked the Federal Reserve Board to transmit its resolution favouring discontinuance of such purchases forthwith to the j Banking and Currency Committee of the Senate.
The Committee is now considering a bill for the repeal of the silver purchase provisions of the Silver Purchase Act.
Commenting on the Council's action, Senator Townsend, who is a member of the Senate Banking Committee, today predicted that the Senate would facilitate the passage of the bill—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.