Gilpin observer., 1914-01-15
MEMBER COLORADO EDITORIAL ASSOCIATION
THURSDAY, JANUARY 18th, 1914.
CURRENCY BILL BENEFITS

The beneficient effect of the new
currency bill is apparent in all
branches of trade and industry. Mon
ey is loosening up and coming forth
from its hiding places, sekeing prof
table investment. Mining, one Of
the most attractive forms of invest
ment, is already feeling the stimulus.
Al careful view of the local situa-
tion cleaned from our operators and
mine owners, proves that many Of
our closed mines are to be re-opened
consequent to the easy tone of the
money market. Letters from several
of our local operators who are now
in the east, endeavoring to interest
capital, state that they are meeting
with success since the great currency
question has been disposed of. This
means a new era of prosperity for
Gilpin county. The money is now
forthcoming to develop new mines
and rehabilitate old ones. To the
persistency and sound judgment of
President Wilson, all credit is due.
The purpose of the bill, ito provide
for the establishment of federal re-
serve banks, for furnishing an elastic
currency. affording means of redis-
counting commercial paper, and to
establish more effective supervision
of banking in the United States; is
sound in principal and effect. 1t
brings the thousands of banks scatter
ed over the United States into one
cooperative system with Central sup
ervision, thus making the banks i'm
pregnable in times of stress, as the
total amount of cash reserves is
available at any one point where 1t
may be most needed. Under the old
system, it was each institution for
itself The new banking system may
be compared to that of a town In
which the water is stored in res
ervoir and may be directed to any
one point in case of fire, in place of
each building having its own individ-
ual tank and the owner refusing to
aid his neighbors in time of neces-
sity.
The bill will effectually prevent the
les" or times of financial stringency.
The monied man may invest freely in
any one class of business enterprise
without fear of boarding large re-
serve for rainy day or time of fl
nancial stress, that may spell disaster
for his Investments on account of the
tightening of the money market by
designing manipulators. The curren-
cy bill overcomes all this and places
legitimate business on firm and
sound foundation.
With our principal product, gold, as
the fundamental source and standard
on which all business transactions are
conducted and with the expansion of
new and enlarged business, the in
creased demand for the product of
our mines is made a certainty with
the result. that capital is anxiously.
seeking for mining investments in all
parts of the world. Never has the fu-
ture looked as bright for mining oper-
atoms conducted on sound business
basis, than 1t does at the present
time.
Progress and prosperity are the
watch words. While the past year
saw large metal production and
greater dividend disbursements than
at any time in the history of mining,
1t was confined principally to the
large operators and big corporations
that were associated with the inter-
locking "big interests" that had con-
troll of the peoples lifeblood, their
money. Now, the people have once
again come into their own, safeguard
ed by the principles of true Democra-
cy as set forth in the Wilson curren-
cy bill, never again to be the prey
of Wall street, loosening and tight
ening the peoples money to suit its
selfish ends. No longer will the tim
idity of the investor keep the small
mine operator in the background, suf-
fering for the lack of necessary cap
ital to make his prospect profitable
producing mine. With the assurance
OF stable money market, money
will be plentiful for prospecting and
the development of prospects. and
the small mine owner will not have
to hunt for hacker. but will
be sought out by the investor to
show what he has that may be plac
ed on a dividend earning basis by
the aid of working capital