Daily independent. [volume] (Elko, Nev.) 188?-1915, 1914-12-14
VIEWS
ON SILVER QUESTION

The following article is copied from
the Washington Post. 1t is a rational
treatise on the silver question, and
a renewal of the arguments that have.
been advanced for twenty years by
silver adherents.
In it is no announcement that
Silver has been remonetized at the
simple parity ration of 16 to l." nor
even the statement that 1t will be.
but the argument Is advanced, as II
has been for years, by this and nearly
every other western paper, that con
ditions generally in the United States
would be benefited with the remone-
tization of silver The article Is well
written and rational and perusal of
1t will be interesting to our read.
ers:
Three years ago James j. Hill, the
master manager of railways, declared
that the United States railways need
ed billions of money to bring them to
the stage of development which the
interests of the country demanded.
The railway managers of the Union
have been unable to raise that money.
One year ago that able financier.
Frank A. yanderlip, stated that fully
two billions of money were needed to
develop the waterpowers of this coun-
try for electrical purposes.
That amount of money Is not i'm
sight>for any business purpose.
Four months ago eighteen countries
of the world acknowledged their in
ability to carry on current business
by declaring moratoriums--in other
words, suspending collections of defts.
Great Britain and France, the two
great capitalistic countries of the
world, were among those who confes-
sed their financial systems were In
efficient, unsound, and Insufficient.
The United States declared no mora.
tofium. being able to reinforce her cir.
culation by hundreds of millions of
paper currency.
One week ago the chancellor of the
British exchequer. Lloyd George, made
the official statement to the house of
commons that Great Britain's financial
collapse was due TO the inability OF
other countries to pay Great Britain
what was due her. aud he cited the.
United States as one Of the deiin.
quents.
Yesterday that able. practical, plain.
spoken business man, James "a. Far
rell, president OF the United States
Steel Corporation, declared that in.
ability of foreign countries TO pay for
commodities needed was the greatest
obstacle to the extension Of our for.
eign trade, and he. dwelt upon the i'm.
portance of the financing of foreign
nations by the United States.
Is there any more testimony needed
as to the insnfficiency Of the gold has.
is systemg
II So let the American people look
at the thousands OF stockholders
throughout the country idle for
months by reason OF the breakdown
VI q tbS sl1ibdtttidi .hybbtH NHttH fNdti
street demanded twenty years ago.
Let them look at the 100000 men
idle in New York city. The helpless
victims Of the uDsoltnd and unsafe and
Insufficient gold basis sySteln wbich
its adyoSstes today are trying to ex.
cuse, 70 apologize for, end vaInIY 10
repair
Let them contemplate the future Of
nur railways our commerce, our m
dustries. IL these men, who nave sIioni
selves demonstrated the folly Of their
financial views, are to be allowed to
keep tns nnainess Of she world An
Che ssrait.3ecbet which the9 placed
upon Il when they demonetlsea silver
and narrowed the hssls 81 flnsI q.
demption II the wotId.s currency
IN Is time 70 broaden, 70 arslatsp, II
render sounder. stronger, and saEer
the basis Of tho bnanclai systeIn 81
i the world.