ROOSEVELT ACTION FOR DEVALUATION IS HELD IMMINENT; High Official Predicts Monetary Statement Promising Return to Gold Standard. SAYS EVENTS FORCE MOVE Slackening of Industrial Pro- duction and Other Phases of Recovery Cited. 375 BANKS TO REORGANIZE Controller Approves Move to Free $400,000,000 of Deposits in 37 States. DEVALUATION MOVE IS HELD IMMINENT
Roosevelt reptd planning to state policy which is believed to include devaluation, stabilization and promise to return to gold; business recovery believed waiting on statement; Repr Patman presses for issue to cover veterans' bonus and all pub debt