The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1909-01-21
SILVER NAY REACH 4 DOLLAR.

\ Washington dispatch under date
OF December 20. contains the follow
ing which may prove the foundation
OF an international agreement:
The publication in Paris of Senator /
Teller's letter tn Moreton Frewln the |
English blmetallist, relative TO the |
rate of exchange between America
and European countries on one hand
and Asia on the other, has served the
purpose of calling attention TO the
fact that Frewen spent some time
last winter and spring in Washington.
urging upon both congress and cabi-
net the Importance of recognition of
the rapidly increasing divergence be-
tween the old prices of the Occident
and the silver price of the Orient.
lie was given a courteous hearing,
he Wes insistent in pointing ont the
fari That Nithin the last decade
there has been an uneNampled rise
IN gold prices. especially In the
United States. with an increase in
wages and In the cost of living while
ON the other hand the silver rupee,
the money OF 500. 600 people in
Asia has remained stationary, with
the consequence that there has been
n marked falling off in exports TO
Asiatic countries both from England
and the United States
During the course of his stay in
Washington. MIR. Frewen addressed
n letter to Representative ]. W.
Weeks, of Massachusetts. member
of the banking and currency commits
sion OF the house, and also of the
ii
mission, in which he outlined his
plans for an Improvement in the ex-
change rate. In this letter he urged
he adoption by the United States and
Great Britain of what is known as
the Goshen plan for the purchase
of more silver
The Goshen plan originated with
Lord Goshen in 1891. when he was
chancellor of the British exchequer
m Lord Salsbury's government. He
was strong monometallist. but he
suggested the establishment of a
strong center gold reserve in Great
britain TO he composed of gold col
leeted from the public by the issu-
ance of small paper notes 10 be re-
deemed in silver and 10 be made
legal tender for only $40. The
English silver advocates of the time
prevented the adoption of the sug-
gesiion. but Mr. Frewen admits in
his letter TO Mr. Weeks that they
were short sighted in this course. and
he now urgently presses the adoption
of the plan. both in his country and
In this. Mr. Frewen's letter was
published In the congressional record
but AT the time attracted no attention
In II he dwelt especially upon the ad
vantages the adoption of the Gosher
plan would be TO the United States
In part, he said
The demand for silver TO put be
hind the small notes would raise tn,
price of silver bullion to dollar al
ounce. The effect OF this rise in sill
yer would be magical II would rails
the exchange with silver-using Asia
it would thereby greatly impair tn
ability of Asia to export to Europ
such products as wheat. cotton. rice
timber. etc. products which compet
with your exports TO Asia. which nov
languish with each fall in exohang'
in other words. with each fan il
the price OF silver bullion.
You are building the Panama
canal. amongst other reasons 10 as
sisf your trade with the Orient Z
rise of 80 cents in the price Of silve
bullion. while giving that profit q
your mountain states, would by rails
Ing the exchange with Asia. pay ant
probably many times over the entir'
cost OF the canal.
In his interview here Mr.. frewet
expressed the opinion that IL the gov
eminent of the United States would
make the Goshen plan bases for a
proposal TO the British government
the proposed wauid be accepted with
aIacrity. and perhaps by Germany
also
II Is probable that Mr., Frewen will
be afforded en-. opportunity TO out
line his views before the monetary