At a conference between a number of Senators, the Secretary of the Treasury and the President, there was further discussion of two points relating to the further use of silver as a metallic reserve for the United States.
More specifically, the possibility of nationalizing silver in the same manner in which gold has already been nationalized through the purchase of existing free stocks at a limited price was explored.
The meeting also explored the ultimate objective or national policy of having 25 percent of the monetary value of the metallic reserves of the country in the form of silver.
Franklin D. Roosevelt, White House Statement on Silver Policy Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/231730