The Washington herald., 1921-04-18

PITTMAN SILVER ACT RETAINED
Alarm Is felt by mining men In
Colorado. Utah and New Mexico lest
Congress repeal the Pittman silver
act at the special session, clifford
II, Ashton, mining man of Durango.
Col, said yesterday at the New Will
lard.
This act was born Of an eniAr-
gency in India during the war and
is rapidly removing silver bullion
from the control of the four licens-
ed brokerage houses in London"
Ashton pointed out. There has
been such strong criticism of the
act In London and the East that we
fear Congress may listen to the
chorus of protests over the meas
ure, which provides for the replace
ment of 207,00o,000 ounces of silver
into the Treasury Of the United
States"
Ashton says that the anxieties of
Nevada's silver miners. including ALI
the large operators, were allayed
somewhat by an assurance given
recently in Tonopah by Senator Pitt
man that there would be no repeal
of the act. =
WESTERN SENATORS
PREPARED TO FIGHT.
The Senator assured his audience
that II an attempt were made to
repeal the act there were twenty
one western Senators who were
willing to conduct a years filibus-
ter against II.
Senator Pittman. as a member OF
the Foreign Relations Committee, ia
IN a position to know the reasons
which have prompted the British
brokers to bring about another de-
probation of silver" Ashton de-
clared. The mining men of the
West have explicit confidence in the
Senator. and we feel that we have
a good friend at court.
Il believe that the outlook Is good
at present, not only for the mining
industry. but for all Industries in
this country. With the decrease
in commodities and wages. and with
Improved efficiency Of labor, the
mining industry should begin to
look up. provided we are not ham
pered by injurious legislation. We
expect a cut in freight rates before
long and an advance in the price
Of copper. lead. and zinc Gold and
silver mining ores should soon gain
the attention of capital. for divi-
dends are assured on a generous
scale"
BRITAIN's DEBAsED
SILVER NOT POPULAR.
Returning to the silver question.
Ashton observed that, from all re-
ports. Great Britain was not having
great success with her experiment
In Il debased silver currency. This
currency. about 50 per cent hns.
is far from popular with the public.
1t was issued under an act passed
this year by Parliament. but al
ready II Is rumored that the treas
ury contemplates the discontinuance
Of the manufacture Of silve- coinage
Of the present percentage. and banks
have been instructed to cease calling
in old silver coins. while the mint
will stop turning out more new
silver coins.
We need the Pittman act. Ashton
says. until industry has recovered its
prewar stride. and when silver will
81 per ounce fine. Paper flls the
gap for the time being. but with the
resumption or normal times people
W III
AMERICAN FARMER
MOST IN NEED OF AID.
The class in greatest need of
help in this country today" said
Ashton. lis the farmer.
During the war prices for all
commodities mounted. But every
one who handled these commodities
made more in proportion than the
farmer who raised them. The same
condition is true today. The farmer
gets little more for any crops now
than he received before the war,
and in many cases what he does get
is considerably below the prewar
normal. He also struggles under
the handicap of high freight rates,
which often discourage his raising
certain crops.
IF we are to send our young men
to the farm, We must offer them
more than there now awaits them
in the country: IL We are to keep
Sour farmers sons on the farm, we
must get more wages for them"