The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1909-07-29
EXPECTS CHINA
TO BOOM SILVER
UNITED STATES AND MEXICO
ARE WATCHING THE NEW
COINAGE SCHEME IN THE
ORIENT WITH A GREAT
DEAL OF HOPEFULNESs.

Last Sundays New York Herald
contains the following story from
Washington concerning the prospects
of a boon in silver. China, 1t is
claimed, is preparing to mint silver
on an extensive scale for a period OF
ten years:
Silver producers of the United
States and Mexico are watching with
deep concern the developing plans of
the Chinese Imperial government to
enter upon a ten year program of
silver mintage, at a rate which is
expected to boom the production
and the price of silver all over
the world. 1t is believed here tnat
the imperial authorities have about
decided against the effort to place
the money of China on a gold basis
at this time. On this point there
seems to have been a sharp difference
of opinion among the Chinese au-
thorities themselves.
about the time of the death of
the emperor and empress dowager
a commission of Chinese f~inanciers
came to Washington and at the
same time visited the financial
centers of this country, with the
view to gathering information to
guide the home government in its
monetary reforms. Like commits
sions were sent to Europe and Japan
for similar Investigations.
-All three of these commissions,
it is stated, recommended that the
gold standard be adopted, and
the American and European govern
ments are said to have given. the
same counsel. But the home au-
thorities in China have hesitated to
make so great a change. They
doubt whether it is practical or wise.
Hence the disposition to cling to the
silver standard and to buy up a stock
of silver sufficient to supply the
empire either with silver coin or
else with a paper currency based
on boarded silver, exactly as the
American silver certificates r cir
culated. The Chinese board of f.
nances recently in discussing this
question said:
In conforming to the standard
of. money used by our ancestors for
upward of 1000 years. we do SO
gladly in the light of all that has
been revealed in recent years of the
Gripping effect of the single stand
ard upon several European nations
and the United States, which is made
event to use by the numerous So
cieties of European merchants who
are demanding of their govern
ments an enlarged use of silver,
and the report adopted by the
German government based upon the
petition of the greatest banking and
commercial interests of the empire,
which wants more silver injected
into the currency of that nation.
1.-The governments plan is under
stood to be adoption of the silver
standard, making the teal, with
about so cents worth of silver in
1t. the basis. China has been buy
ing vast quantities of silver for
some time in anticipation OF this
great coinage of the, white metal.
It's mints have taken practically all
the silver that has gone out from
London for some time. The nineteen
provincial mints have all been taken
over by the imperial government
1t was expected that in May Of this
pear these would be set at work
coming the new teals, but no WORD
has been received and the whole
project of money reform may have
been held up by reason of some
developments following the death Of
the emperor and the dowager. 1t !:
reported also hat there is still in
decision whether the new money
shall be put out based OF the silver
or the gold standard"