Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-12

ruu more than three years till the pur-
chase option was executed. 80 great was
the coal saving This broker said he
looked for o general adoption OF fuel
oil in all large cities before many years,
and in this connection. he expected to
SEE coal converted at the mine into
electric power and distributed all over
the country.
The next generation. he said. will
smile at our wasteful methods OF min %
Ing and transporting coal at such eX
pcnse. when better, cleaner and
cheaper way was open TO us.
China's Purchase OF Silver
\ banker was speaking about an An
nouncement in the papers few days
ago concerning the shipment 10 China Of
10, 900. 900 silver dollars now held in
the United States Treasury. These, hc
said. were to be shipped TO three banks
in the Orient--the Asia Bnking Cor
pOration, the Pan Union Foreign
Banking Corporation and the lnterna
tional Banking Corporation.
There is common impression. he
said, that these dollars are being sent
TO China primarily TO stabilize exchange
rates. This it will do to an extent, be
said. but not in the manner most people
! 'uihh' luC IlOpuAul - 'h"'
these dollars are going to China as so
many dollars. but they are not as they
are first TO be melted down.
The public have recently been pretty
well posted, he said, as to what Is
necessary TO help the European nations
out of their present economic and
financial difficulties, aud what is neces
sary on their part to stabilize exchange
by stabilising trade balances.
Evidently China. he remarked, has
pro6ted by these lessons aud is i'm
porting these 10000, 900 silver dollars
not as money. but as commodity which
has recognized value at present
around S1.30 an ounce.
There is no question. he sa id. in his
mind, that in exchange China is export
ing full value in commodities-her sur
plus production---to this country. anC
goes TO show that in equalzing eX.
: change rates. commodities, even if they
are melted silver dollars, can play al
important a part as the real money.
W. G.. Lane. vice president OF thu
Guaranty Trust Co, Of New York. is
authority for the statement that during
the war the governments Of Europe pur-
chased large quantities OF supplies II
the Chinese market, much of whict
could not be moved on account of lack o
ships.
Now that ships are available, thcst
goods are coming into the world mar
kets in quantities. But no country haC
the goods needed by China, or for tha
matter any goods to send in return. Al
far as the United States is concerned
China needs little that we produce, anC
such imports as we get from that conn
try must. therefore, be paid in metal.
Some days ago the manager Of Que o
the largest banking and investmen
houses in the city said voluntarily tha
the results obtained from the advertising
of certain foreign bonds in th
EVENING PUBLIC LEDGER were aston
ishing. resulting in many instances o
investors coming into their Offices t,
make personal inquiries. Something
rather unusual, he said. in financia
advertising. In actual results the ad
vertising of these foreign securities wa
exceedingly satisfactory, exceeding an
ticipations
Yesterday the manager Of snothe
large financial concern also voluntaril!
remarked that the results of an adver
tisement in the EVENING PUBL,
LEDGER few days ago were keeping
nineteen Of it's men busy. and ba,
resulted in very large increase il
their over the counter" customers.