Mohave County miner and our mineral wealth., 1920-02-28
STORM OF PROTEST
 FOR SILVER DRAINAGE

A storm of protest has developed in and out of the British Empire against the further drainage of the worlds gold into India.
 Colossal gold shipments at the rate of nearly $1,000,000,000 year are go- ing forward directly and indirectly in- to India, chiefly from the United States and Britain. Great Britain gold experts were $50,434,000 for two months ending December 31, 1919, and India took the bulk of the lot. The United States shipped $63,110, 900 in gold to British India, Hong Kong and Japan on Britannia con- in two months October and November, 1919. The Hong Kong and Japan consignments were destined, t is. surmised, on India account.
 These consignments exceed $55,- 100000 gold month from the United States and Britain. Canada, South Africa, Australasia and the entire world are being drained of gold, grad uallly, for the purpose. of paying British trade debts to India, and for the purpose, as further surmised, that Britain hopes later on, perhaps, to be able to re-divert this worldwide segregation of gold from India back to Britain.
 Canada has refused longer to be a tool. During 1919, Canada was drained of it's gold for shipment to India and Britain, and the Canadian government was paying a premium on newly-mined gold delivered at the Ottawa Mint. The collapse in Can adian exchange has resulted from the drain of gold. Now, when it is too late, Canada is trying to recover her exchange balance, has broken loose from London's apron strings, has dis continued her premium" on gold, and has invited her gold mines to ship their gold directly into the United States, and thus directly obtain the premium in U. S. funds over Can adian money.
 Way off in an opposite portion of the world, the Federated Malay States Government, taking the lesson of the rest of the world as regards paper money, has called in for retiremen. the F. M. S. paper currency, and viii issue silver money.
 The drainage of gold into India is doubly unfortunate, in that the gold absorbed into that country, like silver sinks never to return. The world can little afford to spare the meagre gold supplies, especially when silver would be just as acceptable in India-if not more so. The clique of London silver spectators who are believed "short" of silver have purposely kept India, ever since May 5, 1919, out of the silver market, and have shipped gold, in the hope thereby of breaking the price of silver, but their efforts have availed naught and have met with calamitous results in draining unspar- able gold into India, not only from Britain but from the world.
 The assertion that American gold exports to India, whether directly or through Japan or South America, are in payment of trade balances due. does not fit the facts. In any event. had Britain lived up to it's obligations to pay at least interest on it's loans here, it would have been unnecessary to consign gold to the Orient, from this country at least. And America can scarcely be blamed if, in addition to helpfully looking after the inter- ests of the rest of the world, it gives its own a glance once in a while.
 The chimera that Britain may pos sibly recover the gold now being sunk into India may prove a disastrous
 ream. Britain had a trade balance in her favor in the Indian trade in the years before the War, but with depreciated sterling and rupees at premium, the trade balance must be the other way now, in favor of India, and is in fact the other way. And it is a mighty dangerous precedent to set to get India into the habit of demanding and receiving the worlds gold-especially when she would really and truly rather have silver herself, and the best interests of the world at large, including Britain, are that silver, not gold, be used in pay ing world trade debts due to India.
 New York Financial Review.