Extension of Stabilization Fund and Powers, Etc, Hearing ..., on H.R. 3325 ..., Feb 28, March 3, 7, 8, 10, 17, 23, 1939, Volume 661939 - 279 pages |
From inside the book
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Page 9
... White ? Mr. WHITE . Mr. Secretary , speaking of establishing bimetalism by international agreement , that statute is still in effect ? In our laws we have a statute which is the closest we have ever been able to secure an international ...
... White ? Mr. WHITE . Mr. Secretary , speaking of establishing bimetalism by international agreement , that statute is still in effect ? In our laws we have a statute which is the closest we have ever been able to secure an international ...
Page 10
... WHITE . Mr. Secretary , I refer to the declaration of policy that has been enacted into law , and which has never been repealed , which certainly is authority for having the value , or creating the value , of the silver dollar , which ...
... WHITE . Mr. Secretary , I refer to the declaration of policy that has been enacted into law , and which has never been repealed , which certainly is authority for having the value , or creating the value , of the silver dollar , which ...
Page 11
... WHITE . Mr. Secretary , there has been no direct exportation of gold from this country in exchange for silver imported , has there ? And we can reasonably assume that the balance of trade is in our favor and that most of the silver is ...
... WHITE . Mr. Secretary , there has been no direct exportation of gold from this country in exchange for silver imported , has there ? And we can reasonably assume that the balance of trade is in our favor and that most of the silver is ...
Page 12
... WHITE . Do you not think the influence of this great Govern- ment ought to be directed along with the influence of other govern- ments to establishing a stabilizing policy and do away with the inequalities of exchange ? Secretary ...
... WHITE . Do you not think the influence of this great Govern- ment ought to be directed along with the influence of other govern- ments to establishing a stabilizing policy and do away with the inequalities of exchange ? Secretary ...
Page 19
... White , 12 o'clock has arrived , and , of course , if you insist upon that point , we must adjourn . Mr. WHITE . Mr. Chairman , I renew my request . Mr. PARSONS . I might ask if the Secretary would have time , or would be willing to ...
... White , 12 o'clock has arrived , and , of course , if you insist upon that point , we must adjourn . Mr. WHITE . Mr. Chairman , I renew my request . Mr. PARSONS . I might ask if the Secretary would have time , or would be willing to ...
Common terms and phrases
$35 an ounce American amount ANDRESEN answer Bank of England BECKHART bill bonds BRADFORD British BYRON cents an ounce CHAIRMAN circulation CLINCH coin coinage committee commodities Congress cost currency debt December December 21 deposit domestic silver EBERHARTER effect excess reserves exports Federal Reserve banks Federal Reserve notes Federal Reserve System finance foreign silver France gentleman gold certificates gold dollar Gold Reserve Act gold standard gold stock Government increase interest issue January JORDAN KNOKE LUCE member banks ment monetary value newly mined operation ounces of silver PARSONS percent pound present President price level price of gold price of silver proclamation profit question redemption Secretary MORGENTHAU securities seigniorage SHEPPARD silver certificates silver dollar Silver Purchase Act SMITH stabilization fund statement sterling tion trade Treasury United United States coinage WHITE York
Popular passages
Page 270 - Act, but the repeal of existing laws or modifications thereof embraced in this Act shall not affect any act done, or any right accruing or accrued, or any suit or proceeding had or commenced in any civil cause before...
Page 83 - That the dollar consisting of twenty-five and eight-tenths grains of gold nine-tenths fine, as established by section thirty-five hundred and eleven of the Revised Statutes of the United States, shall be the standard unit of value, and all forms of money issued or coined by the United States shall be maintained at a parity of value with this standard, and it shall be the duty of the Secretary of the Treasury to maintain such parity.
Page 91 - Silver Purchase Act of 1934." SEC. 2. It is hereby declared to be the policy of the United States that the proportion of silver to gold in the monetary stocks of the United States should be increased, with the ultimate objective of having and maintaining, one-fourth of the monetary value of such stocks in silver.
Page 72 - And it is hereby further declared that the efforts of the Government should be steadily directed to the establishment of such a safe system of bimetallism as will maintain at all times the equal power of every dollar coined or issued by the United States, in the markets and in the payment of debts.
Page 91 - Treasury not otherwise appropriated, at such rates, at such times, and upon such terms and conditions as he may deem reasonable and most advantageous to the public interest...
Page 25 - An Act to relieve the existing national economic emergency by increasing agricultural purchasing power, to raise revenue for extraordinary expenses incurred by reason of such emergency, to provide emergency relief with respect to agricultural indebtedness, to provide for the orderly liquidation of joint-stock land banks, and for other purposes...
Page 25 - The President is authorized, in addition to other powers, to reduce the weight of the standard silver dollar in the same percentage that he reduces the weight of the gold dollar. "The President is further authorized to reduce and fix the weight of subsidiary coins so as to maintain the parity of such coins with the standard silver dollar and with the gold dollar.
Page 83 - Every obligation, heretofore or hereafter incurred, whether or not any such provision is contained therein or made with respect thereto, shall be discharged upon payment, dollar for dollar, in any coin or currency which at the time of payment is legal tender for public and private debts.
Page 72 - ... be of equal intrinsic and exchangeable value, or be adjusted through international agreement or by such safeguards of legislation as shall insure the maintenance of the parity of the two metals and the equal power of every dollar, at all times, in the markets and in the payment of debts; and we demand that all paper currency shall be kept at par with and redeemable in such coin.
Page 25 - The President is further authorized to issue silver certificates in such denominations as he may prescribe against any silver bullion, silver, or standard silver dollars in the Treasury not then held for redemption of any outstanding silver certificates, and to coin standard silver dollars or subsidiary currency for the redemption of such silver certificates"; and...