The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1918-04-04

est on the reorganization loan OF f25,-
900, 900 and up to the end Of July there
was, In addition a surplus Of about
G 100000 available to the govern
ment. There is. In fact, every reas-
enable chance that China, during the
next two years. will have enough sur
plus funds to pay off outstanding
debts, to redeem paper. and to stand
ardize her silver coinage without bor-
rowing a penny from abroad"
Last September Sir Rufus Isaacs,
now Lord Reading. headed a myster-
ious mission to Washington. There
upon the silver market became par
alyzed 1t was announced in parlia-
ment that the British government was
negotiating with the United States for
our entire output of silver. A little
later 1t was rumored In London that
the deal had been consumamted, and
that Lord Reading, who upon his re-
(the only Hebrew except Benjamin
Disraeli ever to attain that dignity
had been thus honored because of his
successful deal at Washington. Such,
however, does not appear to be the
fact, and 1t Is much to be hoped that
nothing of the sort will ever happen.
We should maintain distinctive Am
erican policy in regard to silver, one
that Is in accord with our democratic
principles. We should help Great
Britain In every possible way in this
war, but it is not necessary for us to
assist her in maintaining monopol-
istic relic of the special privileges of
the middle ages such as the London
fixing board. Neither is it necessary
for us to discriminate against our own
silver producers and to subscribe to
the doctrine Of cheap silver which she
so stubbornly adheres to.
We should fix a fair price for sill
yer and we should stabilize that
price. The natural demand for 1t is
admittedly far in excess of any pos
sible production, now or in the imme-
date future. There is at present no
natural difficulty In evidence. India
| Is prosperous and will absorb all the
silver that is allowed to go thither A
fair price for silver will make China
more prosperous. and the more pros
porous it becomes the more silver it
will want. The Chinese government
voted to coin 150,O00,00O ounces Of
silver, but has never been able to
make the purchase. OF the entire
worlds production of 15O,OO0,OO0 or
more only 110.000,0O0 ounces ever gets
into the markets of the world. In the
United States alone we use for the
arts about 100000 ounces of new
silver per year The amount of mon
ey involved in stabilizing the price
even under adverse conditions in the
distant future, would never be great
as compared with the results achiev-
ed. At present no money is required
for that purpose, but the price of sill
yer is stabilized downward by vari-
Gus restrictions on it's use. A fair
price will do justice to our silver min
| rs encourage the development OF
business, and increase the purchasing
power of the foreign nations with
whom we desire in the future to deal.
A stable price will decrease wasteful
speculation and lay safe foundation
for our merchants during that criti-
cal time in future when we are get
ting established in business with the
silver standard countries.
| Our present one thought Is the
great war. 1t may be said that the
| future for silver should wait But
war conditions and the subsequent
tremendous demand for silver have
made the question a very present and
a very lively issue. The decision as
to our policy should be made now