The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1909-11-27

Of Tsl
That is the pleasant prospect held out
:, ,hs FAIR Exchange Leagues world
"A. movement launched by Moreton
raven. the noted English bimetalist.
IN will be the guest Of Denver and
ooorsdo on December A.
The organization has already secured
firm footing in Great Britain aud
Canada. and such American captains Of
,,dostry as James J. Hill and the late
EH. Hartman have given It most ia
yorable consideration.
While in the West. Frewen will form
branches Of the league here and in that
wav arouse o public sentiment which
will support the English and European
demand for broader use Of silver. The
Chamber Of Commerce has already ar
ranged to entertain Frewen at o lunch
con. and on that occasion he will lay
bis plans before the public.
That bis scheme will receive an en-
,husiastic reception in this State goes
without saying.
Colvin II. Brown of New York, the
general secretary Of the Fair Exchange
League, has been in Denver preparing
for Frewen's reception.
Sooe Trade For Oceidenf. Plan
He made it clear that it was not
Frewen's purpose to seek to revive the
IS to agitation. He bases his demand
for an enlarged use Of silver on entirely
different grounds. He points out. and
official statistics sustain him, that the
fall in the price Of silver has seriously
intsrfered with the trade between the
0ccident and the Orient. Instead oil
buying American and European manu-
hetured goods. the Orientals are now
purchasing the products Of their own
factories and mills. which have in the
last few years increased amazingly in
number aud capacity.
To save the oriental trade for the
countries Of the Occidenf, the price OF
silver must be advanced, is Frewen's
contention and his plan to bring about
that result is very simple one aud may
be stated in paragraph:
"The Fair Exchange Leagues propose
that the United States agree with Great
Britain. and may b. Germany aud France.
to issue small token notes, basel on sill
YER; that such notes be made teuder for
not more than $40, and that little by
little geld currency and coin be retired
into reserve until the reserve. several
years hence. amounts to $500. 600, ,0Oo."
Brown made the following statement
OF the objects of the Fair Exchange
League:
Plan Mooemenf To AVsrf Calamity
''The movement to organize Fair Ex.
change Leagues throughout the United
States and Europe has been inaugurated
by those who recognize that falling silver
spells disaster to our exports. our manu-
facturers and to labor. The movement
is not undertaken IN the interest OF one
industry or one set OF industries, but is
for the purpose Of remedying an evil
that is present generally. and averting q
calamity that is imminent and vital.
"All who have looked into the question
Of exchanges with the Orient have be.
come convinced that every tiue the gold
price OF silver falls, our exports to En-
rope and the Orient decrease. and the
exports OF Iudia and China increase.
Falling silver would mean the transfer.
renee Of our factories and industries to
Oriental countries, to be operated by
Oriental labor.
"For the purpose Of illustration, let us
assume that a barrel OF -four. bale OF
cotton cloth or 100 II. of lumber are worth
% gold. In 1878 the Oriental, in making
his purchases of these products. then, as
now. had to 90 to his banker aud buy
bill of exchange on London. Paris or
New York for s5 gold. The Oriental
hnds that. although there had been no
rise in the price Of -four. cotton and
lumber in the country OF production.
still the price to him had Increased
almost three-fold. What at one time he
could buy for %, he now has to pay $s
Tor. The result is that mills have closed
In Lancashire. England, aud in America
and sprung mp in India.
"Our exports Of -four, lumber and cot
ton cloth, and q score of other things
that we used to send to Europe. India
and China. have fallen off tremendously
and are still falling of more with every
drop in the price OF silver. The Oriental.
being unable to pay the artificial price for
these products. is manufacturing them
himself. Aud where he finds that there
ma profit in making them for his own
consumption, he soon fnds that there II
aprofit in making them for export.
China Preparing To Enter Market
Quite recently q steel mill has been
established at Hankow. China. for the
roliing of steel rails. Suppose the
ohinamen were to sell them for s20 gold
ton. which Is much below our markei
price. That $50 gold would not meat
sso to him. bot $50, for $50 gold viii
exchange into 30 Of his silver dollars