The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1913-08-02

fl0aUCldl h0tuOtllice III 1us..oe ~"
declare that the putting of India on a
gold basis was q mistake. India has be-
come q great hoarder Of gold. as she
was formerly Of silver. and the western
world is feeling the loss Of the metal,
says the Boston News Bnreau.
1t was predicted at the time Bryan's
bimetalism was defeated in the United
States that the bad result of gold mono
metalism would eventually be apparent
in England and that the next appeal for
bimetalism would be from Europe. Now
all nations are facing q gold and cur
reDcy shortage, results from which 1t Is
difficult TO foresee. Ii is true that our
yearly gold production is greater than
the whole production of the 18th GEN.
tury, bat the m OF the 18th cen.
fury was Insignificant compared with
the Of the goth century.
The tax George the Third levied upon
America, causing the American revolu-
ton, was less than 5000 a year, yet
to-day America is paying in interest aud
dividends to Europe a thousand millions
a year. In fact, we are paying as much
to Europe for the use of her capital in
this country as we are paying 10 the
Government per anDum- Half OF this
paymen to Europe is reinvested in this
country and the other half is balance In
trade. America has the most elastic
end the poorest monetary system Ia the
world, and yet possesses the greater
hoard of gold Of any civilized nation
a hoard of gold used in the most IN
civilized way aud rot made fundament.
ally available in her currency and bank
ing.
Now China is clamoriDg for gold and
currency. With a stable Government
who can say what will be the amount of
gold that may be called from the nations
of the West in connection with invest
ments in developing China?
Egypt and India are already draining
away $3.50. 600, 900 gold per annum from
the western world and boarding 1t.
The wise statesmen of Europe and
America were never happy until they
taught the Felaheen Of Egypt and the
Parisee of India that gold was better
for hiding purposes than silver.
When the yellow races get the taste
for gold the business and investment
world may have serious problems on
hand. The yellow races are already
raising the price of beef and bread
while Canada and the people of the
United States have become importers
instead af exporters of bread and meat.
America is growing in population al
the rate of 3 per cent per annum and
diminishing in its cattle supply at the
rate of 6 per cent per auDum. The sup
ply of cattle in Argentina is not iucreas'
ing and Europe is facing a cattle short
age jusr as is America. Western Can
ada is getting her butter aud mutton
from New Zealand and her beef. pork
and poultry FROM Ontario and Quebec.
There are no longer any cheap farm
lands on the American continent. Al
the rich prairie lands have been ex'
plotted and the rich ~alluvial lands OF
Washington, Oregon and British Co.
lumbia are covered with forests II
Europe is to give her gold TO Iudia and
Egypt for boarding and deny it &c
Canada and the United States there
will be some problems on hand. One
OF these problems may be bimetalism,
Many English statesmen pleaded foi
bimetalism before William j. Bryan
asked the United States to go it alone.
Gladstone was insistent for mono
metalism bat the followers of Gladstone
are losing their confidence in the vir
tues of gold monometslism both fol-
England and the continent. and some
are recalling John Brigt's declaration
81 do not understand currency and. ]
do not believe any man who says be
does"