Plentywood herald. [volume] (Plentywood, Mont.) 1908-current, 1928-01-27

toiiincfce iii many Ianusf INDIA VIII
Not BE Placed On Gold Basis, lie Saws
The tim is not far distant when the
place of silver in the honey scheme of
the world Will be fixed by an interna-
tional committee. India will not be
placed on a gold standard because the
British government has accepted the
fact that to do so would mean the con-
ffscation of the stored wealth of 400,-
600 900 people of that land.
Silver is recognized today as essentially
a money metal. despite it's demonitiza-
ton. The burden of international COM
merce of the present day is too great for
the gold supply and 90 per cent of the
silver production is now used for coinage.
Due TO the organization of the Ameri-
can Silver Producers association the con-
sumption Of silver in the arts has been
Increased Is per cent in the past two or
three years. An advertising campaign,
which is being conducted by the associa-
ton, in conjunction with the National
Stlversmiths' association, is being waged
at an expense of $4,000 a year and to
this work is due the substantial increase
in the use OF silver in the arts.
III foregoing are some of the state
ments of William Montgomery Ferry,
president of the American Silver Pro-
ducers' association and vice president and
managing director of the Silver King
coalition mines of Utah.
These statements by Mr.. Ferry will be
of great interest to Montana people since
this state is one of the country's largest
producers of silver.
Mr.. Ferry and Thomas Marley. formerly
OF the bureau of mines at Salt Lake,
passed through Montana recently en-
route to Spokane on a mission connected
with the establishment of q national
mining research bureau at Salt Lake.
Bureau of Mine Work
When the bureau of mines was re-
moved from the department of the in
terror and placed with the bureau of
commerce." Mr.. Ferry said. Secretary
Hoover named a committee, of which
Charles Booking was the member from
Montana, to investigate the proposal to
establish a research station that would
render to the mineral and non-ferrous
metal miners of the west the same serv-
ice that is now rendered by the national
coal and iron research bureau at Pitts
burgh.
The committee Endorsed the research
idea. Senators Smoot and King have in
troduced bills to carry out the plan. but
here's the rub: We have what are known
as foster stations. part of the mines bu-
reau program. They are located at Salt
Lake, Reno, Moscow, Berkeley, Tucson,
and Seattle. They render considerable
oSIflCt, DtldtOT Ming, III III tCODOIly
interview, declared that it was proposed
to abolish these foster stations. The sem
ator was wrong, but opposition to the
national research bureau at once devel-
oped. We are now sent to assure the
people Of these various states that the
foster stations are not to be abolished"
American Silver
Discussing the silver situation, MIR.
Ferry said: Our association members
nrnifyan OG nm mn ny1tnoaG unaV IF
which rs, 000, 900 ounces are American
production.
1--WE are following the plan of the cop
per n brass association in promoting
the use Of silver. If the present genera
ton used sterling silver as freely as their
fathers did, the nation, because Of its
increased population, would use the en-
tire American output in the arts. We
have met with splendid success in our
campaign, and propose to continue 1t.
THE news that has given our members
the greatest amount Of satisfaction Is
this: Senator c.. s. Thomas Of Colorado
was sent to Europe as the representative
of the association to confer with old
world f1nanciers regarding the threat to
dump, during a 10-year period, $780,
600, 900 Indian silver upees on the mar
ket as part OF the plan to put that coun-
try on a gold basis.
Senator Thomas had credentials from
the secretary Of state and Of the treasury.
He also had their support. He conferred
with British statesmen. He returned to
report to our board of directors that Eng
lands message to the American silver
miner is: Sit tight. The India scheme
will not carry. 1t will be SO modified as
to do no harm to silver Great Britain
realizes hat much of midas private
wealth is in silver. Under the law OF
Mahomet. women cannot inherit prop
erty other han that they wear on their
persons, hence the bracelets, ankletsp
chains and rings Of silver. 1t is their
banking system, this conversion Of silver
into ornaments and things of use.
Gold Declining
I'VE have been further advised that
the gold producing districts Of the world
are nov at their peak and must decline,
that within a few years at most nations
will be compelled to enter into negotia-
lions to fix the use of silver in the money
scheme Of the world, because gold cam
not carry the burden under decreased
productton-does not do 80 now, In fact.
w have the support OF Secretary
Mellon In our plans to promote the use
OF the white metal in every way possible.
We have the support OF the three mem
beers OF the Dawes committee, General
Dawes, Robinson OF Los Angeles and
Owen B.. Young. We have the support
OF the great financial institutions Of the
world.
These eminent men and powerful in
situations now realize, as never before,
that the production of silver is intimate
ly connected with the economic life Of
the world and that any situation that
would cause the suspension Of silver pro-
duction would seriously affect the pros
perity of the world.
THE smelters also recognize this fact
and. for the first time in the history Of
the west, the miners and the smeltermen
now get along without friction Of any
sort. All these forces are cooperating to-
the output OF American silver"
Honor Judge Lentz