The Washington herald., 1917-09-07

the ease with which the $4,000, 900. =
900 liberty loan was absorbed by the
American people are accustomed to
call attention to the fact that the
Federal government was compelled
to pay out the entire amount before
the final subscriptions were turned
in. This was made necessary be-
cause IL was vital that the allies
who have been making very heavy
purchases in the American market
should be supplied with the funds
by means of which payment could
be made.
One of the best authorities re-
ports that the purchases by Great
Britain alone in the American mar
ket aggregate nearly 100000 a
week. And 1t is presumed that the
aggregate of all the purchases made
by the allies in the American mar
ket aggregate nearly 10000 900 a
the present fiscal year require ad-
vances from the Federal govern
ment including those already made
OF about $4,000. 100000.
The high price which silver is now
commanding in the market will un-
douotedly considerably swell the
money value of the precious metal
mined In the United States in the year
ending on December 81 Assuming that
our mines are producing approximately
as much gold as they did in 1916 then
the money value of gold and silver
mined in the United States in 1917 is
estimated at not far from $50. 900. 900.
Again California leads in the pro-
duction Of gold due undoubtedly TO the
fact that science has shown how to
secure gold from mines which
formerly were deemed of no COM
mercial value because the levels were
too deep. California's gold was OF the
value of SO, 100000 In 1916. Thereby
the state maintained prestige over
Colorado. although at one time 1t wac
thought that Colorado's gold output
in that year would be in excess of
that obtained from California. Alaska
stands a good third with an output
of SIG. 100000.
The money value of gold mined in
1916 is officially announced to have
been $92, 900 in round numbers.
These figures are somewhat disap-
pointing for 1t was hoped that the
gold production in that year would
be approximately of the money value
of s10O,O 900. Silver in 1916 was mined
so successfully that the money value
of it was almost exactly $4,000, 900.
The money value of silver mined this
year should be considerably in excess
of that figure.
Goernor Whitman has at no time
since he entered the executive office
at Albany revealed such qualities of
leadership as was the case when he
compelled a reluctant legislature to
accept and enact into law a measure
whereby there will be excellent con-
troll of food in New York State. The
governor knew that there were pow
erful influences inspired by those who
make a business of speculating in and
boarding food who were anxious to
defeat this measure. These specu-
lators carried on a campaign eau
tiously. almost secretly, with intent to
persuade the farmers of New York
that the measure, IL adopted, would
be of disadvantage to the farmers
and entirely in favor of the consum-
ers. Instead OF that the governor is
confident that the farmers of New
York will be benefited as well as the
consumers for the interests of the
conusmers and the people of New
York are, the governor says, insepara-
bly, bound up in the interests of the
farmers.
The governor does not share the
view Of those who insist that the
middleman should be eliminated He
believes on the other hand that the
distributor and the middleman who
are honest and not seeking undue
profits are vital factors in the econo-
mic system. The passage of this bill
will undoubtedly go far toward re-
moving what was regarded as a seri-
GUS food peril in New York City and
in the large cities of the State next
winter.