Mohave County miner., 1912-02-10
Silver.

of the silver situation has contributed the following discussion to the columns of Financial America:
 The situation may be crystallized in few words: China adoption of a reorganized silver basis currency may possibly lead to revolutionary changes in the position of the white metal.
 Of course it is not intended to sug- gest that recrudescence of the ques- tion of bl-metallism is probable. The verdict of the modern world that monometallism must rule In any standard of values will not be altered. That silver might displace gold as a standard is theoretically thinkable: but that it can co.exist with gold as such has been proved impossible after the worlds experience of the last 50 years.
 But the new factor of the Chinese consumption is one which has almost incalcuable possibilities in the money. metal markets This letter is invited by your publication of extracts from the annual reviews of the leading Lon don bullion brokers-Mocatta X Gold smith, Pixley & Abell and Samuel Montagu & Co.,, in all of which las we'll as in their weekly circulars) in creasing stress is laid upon the con. sumption looming up from the awak ening Chinese nation. This prospect has inspired the Montagu circular to near poetry" and it's remarks on the situation do not lose force because the head of the concern Lord Swayth. ling-has brother who is the under secretary of state for India for Great Britain. Let me quote from this cir. cular a little more freely than did your news colums:
 Concurrent with the advance of railways and the tapping of the ma stealthy stream of metallic wealth in payment therefor, and when we con. ,ider the vast fields for enterprise, the fringe of which has barely been touch ed. we may anticipate that the current will widen as it flows. The first funct. ion of new railways is to tap the local markets, a comparatively easy process, but it is much more difficult to carry trade in exchange for local production, and that for two reasons, A market for foreign commodities must be creat- ed, and the Chinese peasant, extreme. ly poor on the average, must first be provided with the means to buy, that is, he must receive enhanced payment for his labor before he can purchase important luxuries.
 Therefore whilst the railways con. tnue to stretch out after the unex plotted wealth of China not only the wealth beneath her soil as yet unmin- ed. but also the wealth attaching to the patient toll of her scarce counted sons-so long will the balance of trade be in favor of China. At present the railway system of China has not left it's cradle and though other nations may expect, and with good reason. to profit by the opening of trade through out the Empire in that country, China herself will grow rich. A mere ad- dtonal tael head means g50,OOO, ,OOO.
 ''It may be here pointed out that the possibilities in regard to silver in the Celestial empire are. to large ex- tent. independent of any scheme in- change to be purchased by the gov ernment involving gold star dard. If a large silver currency is needed for India, much more is It for China on the score of population, territory, and ancient usage. Whether the addition to the currency called for by increas- ing wealth be imported by way of ex. change or be purchased by the gov ernment the price of silver cannot fail to be affected favorably."
 You will note that the bullion broS- CTS just quoted place the possible needs of the Chinese Empire at the equivalent of about 25O,OOO,OO A census taken by the Chinese govern. ment last year placed the population of the country at something over 329,- O00.000. On the basis of the coining value of the United States standard, to create only dollar head woula call for 329, 100000 of silver dollars to provide which would demand 25O,OOO,-