The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1919-11-22

NNyW of these comes ron Paul M. Warburg, IN of the leading au-
N0WWgN thornies o. finance in the United States. MI. Warburg arrived
- home the other day from a three months stay in Europe where
he had made a study of financial and industrial conditions Speaking of the
reeklessness in thu expenditure of money boil in europe n the United
the greater advantage o the country, splenddly manifested during the
years of the war has ended in the present reacton-an orgy of brazen self
The world is living in a FOOLS paradise, based upon fictitious wealth. rash
promises. and mad Illusions"
This, remarks the Christian Science Monitor, coming IS it does from
m who las long been considered a conservative, farsighted fnander
may seem strong language to a luxuryIovng American people; nevertheless
his statement bears out the reports O. other banking authorities who have
made ar analysis of European and American economic conditions Never
"a there greater opportunity for the people of the United States to render
a world service than right now. This cal best be done by rigid economies
and greater production.
The European countries ar very much in need of credits and az mate
RAILS BY supplying these the people of the United States will lot only be
service that cannot be computed in monetary terms. From an economic
standpoint solely there is the greatest necessity for such cooperation at
Moreover, the nations and municipalities of Europe are o coming to
the United States fol funds. The British government recently hoated a loan
of s25OOooOOo in this country. The cities of Lyons, Marsenles. and Br-
deaux France, have just sold s45ooOooO bonds to American banking instt
tuhons for refunding and other purposes. In each cse the interest rates
are ost attractive. Other European and Oriental offerings have been made
and will be made in the near future. 1t is estimated that Europe will need
to borrow about $4,000 100000 in the United States in rider to give to Euro
pean institutions the needed financial help. 1t hardly needs to b said that
money invested in these bonds will bring better returns than if spent in
extravagant living.
Much money has beer made in the United States by many people during
Q. the utmost Importance. both to the Nation and to the individual, that it
shall be conserved. There is also. the greatest need for HI people again to
turn their attention to thrift and industry. 1t has been said many times
but it cannot be reiterated too often, that greater production and persistent
thrift ire imperatvely necessary in order to bring down the cost Of living
Observers in Philadelphia. watching a traffic policeman. n of whose
duties is to determine whether motor carsh have or have not been left stand
ing as long as the law allows have wondered at seeing him pat the seat
uennu ue uIiTns wheel seemingly n felt very friendly toward n auto
mobile; tut automobiles are lot horses, and ever their most enthusiastic
admirers have n inclination to pet them. The officer, it is interesting to
learn through the North American, has discovered a way of determining
how long a car sheen standing. If the seat is quite warm he knows that
the ar has but just been left; If it is barely warm. he knows that it has
been left longer; If it feels COOL he deduces that time is nearly up; and
if it feels cold for the legal limit is short at Phiadelphia-he is reasonably
certain that it has been there longer than it should be-
Men have boarded gold. somewhere in the world, until W we of the
West nevermore see tiso n universal medium of exchange. With silver
coins worth more than their face value, in mans estimation. may we not
expect to see them boarded likewise? And after III gold and silver is all
put away, u of reach. for safekeeping. will treasury and bank notes finally
T follow to the sam safety vau of material greed? And if 81. what standard
of value will next appear, and will it be boarded? When will men learn
that the standard of value is in what they think?
Bulwer Lyton made the wise Richeieu say: Beneath the re of men
entirely great, the pen is mighter than the sword" The dramatst was not
rhapsodiing o dealing in extravaganza. He was uterng a truth which
is becoming more and more understood and recognized. The sword repre-
sents force. and force n be net and overthrow with force, while the pen
represents reason and sentiment, against which nothing a long prevail.
Everywhere the people ire taking owe public utilities and RELOCATING
private corporations owning such necessities to the rear. Why then, is the
food supply so regulated? If food is lot a public utility. what is 1T? If
prices on it keep on going up of is will forget what it is, for lack
of opportunity o get acquainted with it.
There is N more raseanty than usual We hear o about it only
because it is being uncovered and punished. People will longer toll
crate it, One way or another. the people are going to become the govern
ment of this country in fact a well IS IN theory. Make up your mind to that
a a a a a a a. a a - a a a a a