The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1919-12-11
NEW WAY TO MAKE MONEY: HOARD
DOLLARS AND SELL THEM AS BULLION
AS PRICE OF WHITE METAL ADVANCES
Demand Exceeds Supply, Fore
ing Quotation Up to Coinage
ValueAMost of 1t Is Exported
to Japan, China and India
New Bill Proposed

|
| New Bill Proposed
States is becoming scarcer each day
while the demand for the white metal
increases until the actual value Of
the silver dollar today is nearer in
coinage value $12929 than ever be-
fore. This is the statement being made
by the leading bankers and financial
experts in the country.
If the supply for silver does not
keep up with the demand the result
will be that the silver dollar will be
worth more as raw silver than it
change and barter, these experts point
out. Which leads the man in the
street to wonder if he could not build
up a profitable business by buying
silver dollars for their face value, re-
/ fining them and selling the silver OBJ
tanned at profit.
New Bill Introduced
The reason behind the present rec
ord breaking demand for silver bullion
is the purchase by eastern and Eu-
ropean countries of silver bullion
from this country. In fact the situ-
alton is so acute and so dangerous to
the economic condition OF this coun-
try that a bill has been introduced in
congress providing that gold certifi-
Gates of the United States payable to
bearer on demand shall be and are
hereby made legal tender in payment
of all debts and dues public and pri-
vate"
| In supporting this bill Senator Reed
Smoot of Utah, stated: The business
interests of the country are in such
shape today that they are unable to do
the business that is required of them
yon account of lack of 81 and 50 bills.
Every part of this country is calling
upon the government for 81 and So
currency. .....
Cause of Shortage
."I want to say in passing that what
has brought about the shortage Of 81
' and 81 bills at this time is the with
drawal from circulation Of all silver
certificates. The reason FOR that is
apparent to all AS soon as silver ad-
n vances beyond $1.29 thu, silver certifi-
. cate that can draw silver from our
treasury on presentation is at a pre-
MUM; or, in other words they can
take the silver dollar today and sell
it as bullion for more than the dollar
is worth as a circulating medium"
In reply to a question no wthese
silver certificates get out Of circnla-
tiOn Senator 4Smo0t replied, The
speculator gathers them up and is nc
: doubt holding for advanced value
No Chance to Lose
In other words according to the
senator's information, there are peo.
pie thruout the country and perhaps
; in foreign countries who are playing
a game in which thtey have every
chance to win and no chance to lose
. BY holding these silver certificates
! which will not depreciate IN value but
!. on the contrary advance in, value they
> will be able to present them at the
federal treasury and secure silver
dollars or bullion for their face val
.. ue With silver quoted above $1.2t
? they will realize tidy profit.
TO many comes the remembrance
y of William Jennings Bryan's presiden
tial campaign when free silver and "1(
to /" were the center Of heated con
Il troversy whether the country should
u Bryan lost out but today the country
l. faces the situation which he prophe
! cized Today it is nearer IA l..
to l."
Huge Amount Exported
An amount of silver PRACTICAL!
equal to the amount of silver certif
Gates in circulation has been exported
I principally to oriental countries. A
the present time there is $496,327 ,53
/ notes, bank notes and silver certif
Gates in circulation redeemable at
'ace value for silver These are IL
q the form of 81 and So bills. To offse
this circulation of silver certificate!
this country exported up to Octobe
81, 1919, $425,544,0OO worth of silve
bullion.
AS a result Of all these conditions
the price of silver has advanced t.
as high as $1.37 1-2 an ounce with al
s average around $1,2929, which is tn
Il coinage value OF the silver dollar.
a Export at a Profit
I'm consequence of the enhance
, ment in the value of silver metal, sill
:. yer dollars can now be exported a
;, a profit and silver certificates whicl
y are redeemable in silver dollars hav'
;. practically disappeared from circula
tion,' is the way Senator Smoot sum
: up the silver situation in this coun
= try today.
"A late report of the treasury de
partment shows that $15O,000000 il
: silver dollars had been exported b.
) the government in excess Of that ex
. ported by private individuals, firm
!. and foreign countries. Most Of thi
! has been shipped to Japan, China AM
: India.
? Pittman Act Blamed
Many financial experts who hav'
J made a study of the present silver sit
uation blame the Pittman act for tn
q,