Elko independent. [volume] (Elko, Nev.) 1915-current, 1916-03-21
BELIEVES SILVER
WILL Be REMON|T|zED

San Francisco, has prepared the fol-
lowing in response to a request of
Daily Financial America for a discus
sion of the prospects as to silver's
position in the future:
The present great conflict in Europe
will make many changes. not alone in
the map of Europe but also in the fl.
nancial centres of the whole world
When 1t comes to finances, the whole
world is so closely bound together
that, If a change takes place, it will
effect every country throughout the
whole world.
The most radical change that l be-
lieve will take place will be the re-
monetization of silver. 1t will be a
bitter pill for many financiers and
writer's of political economy to swal-
low. But what can the financier do?
This war has cost an enormous sum
of money, and it looks as If it would
be almost impossible for the different
nations ever to be able to pay the in
| terest on their outstanding obliga-
tions.
The great banking houses in Europe,
with the aid of the bankers of Ameri-
ca, will work out proposition which
will place the finances of these differ
ent European nations now engaged in
this terrible war on a solid footing. 1t
will be quite natural that, when these
bankers meet and discuss their fl
nances, they will first find out how
much gold there is available to secure
the many billions of debentures issued
since the war and which the different
governments have promised to protect
when due. They will find that there
is not gold enough in the world even
to partly protect these debentures. and
the only thing that will be left for
them to do is to remonetize silver and
thus increase the metallic currency of
the world almost double
Naturally, a great many bankers
will say that the world will be flooded
with silver and that il rs impossible
for that reason to keep up a double
standard. 1 maintain that nothing of
the kind will happen; the more silver
produced, the more money in circula-
ton. and the better the general busi-
ness. Certainly their argument might
be correct if any one nation would
stand out; the value of a silver dollar
must be the same all over the world.
That was the trouble when Bryan
made his campaign for free silver; he
was defeated because America alone
could not have adopted the double
standard. The gold would have all
gone out of the country in very short
time.
But, conditions have somewhat
changed; America through the war is
holding a greater part of the gold held
before the war by England France,
Russia and Germany, and, therefore, is
really not in need of any change; but
from the friendly feeling existing in
America towards the restoration of
silver to its former standard, America
will not object, but will lend it's aid
toward the change.
l believe that America is likely to
be the first nation to propose TO es-
tablish new ratio between gold and
silver and thus help cause that will
benefit the moT!d at large. The re-
storation Of silver will mean a great
boon to all countries using silver now.
People trading with countries where
silver is the standard will know, when
they buy or sell goods in these coun.
tries, that when the time comes to
settle there is no difference through
either the raise or fall of silver.
When the war is over, England,
France and Germany will each try to
reach out for new business 80 as to
during the war. The South American
Republics, Mexico, China and Japan
Will be the great places to look for
development OF trade, and fixed
standard for silver will, in my opinion,
be Of immense value to these respec-
tive countries. But aside from that,
what an immense amount of new bust.
ness II would start in all business
lines! A great revival In mining al.
ways has great effect on all indus
tries.
In conclusion, I will say that being
a great believer in the future OF silver.
1 naturally feel that there is great
prosperity ahead for all those who are
interested in mining properties where
silver predominates.