The Idaho recorder. [volume] (Salmon City, Idaho) 1886-1927, 1907-01-17

be docs not know whether he Is 60
I Ing to get bis pay In S0-cent dollars
or In dollars worth ei.lO.
Two years ago, J. J. Hill, Of the
Great Northern and Northern Pacific
railroads, put on two immense steam
ships to run In the China and Seat
tie trade. 10 one OF bis speeches
about that time he said II China
would buy -four to the amount Of s5
per capita for her people it would
bring to the United States %. .OoO.-
000, 900 per annum. lie tried 1t, but
ound that China had not the FIVE
dollars. She would be glad to pur-
chase 100, 900, 600 ounces OF silver per
annum and pay for 1t through her
merchandise ard customs, she wants
to develop her wonderful hut slnm-
bering resources, but she cannot for
want of money.
Indeed, had all the silver taken
from all our mines since the discov-
cry Of th Comstock forty eight years
ago been shipped to China. 1t would
not have given her people s6 per
capita. We have over $50 per capita
10 one and another form Of money
and yet we are told that both New
York and London are worried over
the drain of gold that has come upon
them. The Bank of England has
Just borrowed s2.5O0, 600 from the
Bank of France 'to tide London
over January" and the Bank of
England has doubled her usual dis
count rate.
We believe that the annual demand
of Europe and the United States for
the arts and for subsidiary coinage,
and the amount needed by Great
Britain for India and the Straits set
Elements, is more than is taken from
all the mines Of the United States
and Mexico. Then why not consider
the question from business stand
point?
Why should not congress pass Law
to the effect that while maintaining
the gold standard, the government
will at the same time, ta place the
business of our export merchants and
manufacturers dealing with silver
countries on a stable basis, receive
silver In exchange from such coun.
tries at the rate Of 80 cents Tor N.O0)
per ounce, and sell silver to such
countries at the same rate.
That would fix the price Of silver
the world around as fast as the cable
could carry it. II any congressman
doubts that, let the bin be made t6
take effect 80 days after Its passage.
Such law would fix the price Of
silver for probably ten years, until
from natural causes its commercial
value would exceed its money value.
To pass such law the first reQui'
site would be to obtain from the
Chinese ambassador an opinion Of
the amount China would be able Il
absorb. Then a strong man, like
Senator Aldrich for instance, should
lay the matter before the Morgans
Rockefellers, etc., In New York. II
they would approve Of 1t, and we be
lieve they would, then introduce the
bill and have the leading newspapers
announce that such measure woult
not be ant agonized by the financia
magnates and that 1t met the heart,
approval of manufacturers and ex
porting merchants, and 1t woult
pass. 1t would not only place silve
on a stable basis. but 1t would be |
mighty relief to the banking centers
for it would stop the flow OF gold u
Spanish America, to Egypt and Il
Japan.
Finally it would be great tbins
for our trade with South Americ;
and the Orient. Is 1t not worth try
ing for?-Goodwin' Weekly.