The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1919-11-29


spreading and will Increase
To Indicate all the sources OF ac-
tive demand for silver would neces-
state the consumption Of too much
space. IL is quite sufficient for all
practical purposes to say that the
present apparent annual demand is
approximately five times the produc-
ton.
In normal pre-war times London
carried from 5000. 900 to 10000
600 ounces of silver in storage. The
| present stock is conceded to be prac-
tically nil. With China now getting
her supply direct from the United
States, where 1t is produced. and be-
ing reduced to the necessity of ex-
porting gold to India instead Of silver
as has been her custom for genera
tons, England has already lost much
Of her old power and is in danger Of
losing all of her potency. With her
back to the wall, bidding yer 20
pence per ounce for silver. with her
pound Sterling, which has been Gag
erly sought at par throughout the
world for years almost i~mmemorial,
quoted at $4.O2h in New York. her
financial horizon is Swallowed by storm
clouds Of the most threatening char
acter.
Engiand's Predicament
Reflected BY Statement
The story of England's financial
predicament has not yet been nm
ished. Now comes a British Treas
ury official who is quoted as having
said that the allied countries must
have a credit of $4,000, 00O, 900 with
in the next twelve months with which
to overcome the evils Of the paper
money issues. While 1t is difficult
to reconcile this statement with the
limitations that a higher price than
sc pence per ounce for silver may me-
cessitate the withdrawal Of her sill
yer coinage and the substitution of a
baser metal, and that the debasement
Of her coined silver is the only pre-
ventive of boarding and higher prices,
It is plain to be seen that a credit of
such an amount from the United
States would assist in graduating the
evils of paper money issued. But
she cannot reasonably expect the
people of this country to buy her
bonds when she is persistently en-
~deayoring to depress the price of our
silver to the point that would give
ner control of the metal and world
supremacy in finance and commerce.
Americans Beginning :
To Show Resentment
She has juggled silver so long to
her advantage and to our very great
and serious loss that the facts of her
various coups now being generally
known, our people are beginning to
show a feeling of resentment upon
which, If she be wise, she will look
with ~foreboding. 1t is for us to see
hat nothing like the decentralization
Of silver and the so-called Pittman
bill is again permitted to take place
at Washington. We are powerful
enough now to dictate the financial
and credit schemes of the world. 1t
would be the height of folly and prac-
tical commercial suicide for US to
give consideration to any proposals
from across the sea. Past expert
ences should serve to keep us aloof.
We have given freely of our blood
and treasure to save them from de-
struction. Now they want us to lend
them enormous sums to be used in
waging commercial warfare against
Us. That we must grant them cred
It's with which to reorganize their in
dustrial life is a necessity, but should
be done only upon such terms and
conditions as shall make certain our
own supremacy:
America Should Not
Tolerate Interference
Silver must of necessity, occupy its
important place in the granting of
credits to foreign countries; and be-
ing the chief source of supply, we
should make 1t understood that we
will tx the price and will tolerate no