The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-07-20
BETTER SILVER
PRICES CERTAIN
Spectators Have Secured Hold
on Considerable of the
White Metal.
KEEP THE
QUOTATIONS STRONG
Recent Decree Changing the
Coinage System of China
Is Described.

| II, as Is stated by numerous authori-
| ties, the available supply OF silver has
passed into the hands OF spectators
there is reason to expect that prices for
the white metal Will continue strong for
some time to come. The Engineering
and Mining Journal has the following
| paragraph in a recent issue In this con-
nection.
visible stocks OF silver has passed Into
the hands of a strong group of specula-
tors In India and London, who are evil
IDENTIFY determined TO hold the price up to
its present level, II not to work an ad-
vance. That they are able to do IT there
is little doubt. especially as they are
backed by the prospect OF continued de-
mand from India and a possible renewal
no reason to anticipate any material re-
cession in prices for the present"
The Mining World touches upon tho
interesting editorial as follows:
Another change has been proposed In
the coinage OF China. An imperial de-
cree has been published and on the rec
ommendation of the minister Of finance.
is TO be adopted, This revolutionizes the
present currency system, The following
is paragraph covering the proposed
changes;
"It is commanded that the unit OF ma
tional currency shall be the yuan or dol
lar The dollar shall be the principal
currency and shall weigh mace and
candereens. The subsidiary coinage shah
be three silver coins OF so. % and 10-cenl
denominations, the nickel coin, or cents,
and four copper coins of cents, ! cent
5 cash and I cash.
1.-The value OF the dollars, 10 cents,
cent and cash shall be in decimal proper
tions and permanently fixed. 1t shall not
be permitted TO raise their relative values
or to depreciate them, The ministry shall
min n T.
cording 10 the standard weight, purity
and design and TO issue them gradually
for currency
by the old system OF coinage tael
equaled 10 mace; 10 mace equaled 100
candareen and 100 candareen. 1000 cash,
The tael varies in values among the dib-
ferent provinces. but is averaged at about
sl,40 With the yuan 0.72 of a tael. its
value is S1.o0S. almostly exactly that of
the American dollar. AS the edict perma-
nently fixes the coins in decimal proper
n new value for the cash, now zoos cents
Instead of Ia cents. as under the tao!
system. The new currency system then
will have coins comparing with the Amer
fcan dollar half, quarter dime, nickel and
cent. with additional coins worth approx
imately cents, mills and 1 mill
I'm order to avoid loss the old coinage
is to be called in gradually but after
and telegraphic charges-everything, In
short that goes to the government-are
to be made in the new coinage, The Ia
Ching government bank Is to be made
responsible. in conjunction with the mint,
for putting the new coins into circua-
tion and for calling in the old.
"But there is a question whether the
scheme will ever be put into practice.
Within three years there have been three
pronouncements made by the government
on the question of currecny. The first OF
these was the decree of October 8. 1908,
which declared IN favor OF the Kuping
tael as a standard unit. The second was
the list OF regulations issued last Septem-
ber The third Is the decree of May "a.
just quoted.
1.-The TIA Ching bank has capital OF
100000 Kuping taels and $4,000 hair
amount 40 per cent was subscribed from
official funds and 60 per cent by the pub
lie"