Show MEASURE DESIGNED TO PUT SILVER DOLLARS IN NEEDED circulation while in salt lake recently ravenal mcbeth secretary of the idaho mining association gave to the press an interview dealing with a subject that is of genuine interest ii terest to everybody interested in the future of silver he was talking on the importance of uniting to secure passage of a bill now before congress which is designed to have the government meet the cost of transportation and insurance of silver coins from the mints to the banks of the country mr mcbeth is quoted as saying at present it costs 8 to send 1000 silver dollars from the denver mint to local banks said mr mcbeth this cost which is almost 1 per cent is prohibitive banks cannot afford this charge what is the result take a ten dollar bill to any western bank salt lake san francisco spokane and have it changed and you get paper money where is the silver in government mints I 1 was told when I 1 was in washington last spring by former director of the mint scobie that the vaults of the eastern mints were full to overflowing with silver dollars so great was the congestion that he informed me he was going to philadelphia to oversee the construction of a special vault for the storage of silver such a condition is wrong and uneconomical it takes about one and a half cents to make a paper dollar A paper bill lasts only eight months I 1 am informed by y treasury officials in other wor words ds our paper money costs 2 per cent a year the cost of silver money is practically nothing no n thing inasmuch as it has almost perpetual life if banks could get silver dollars without paying an excessive charge the circulation and use of silver would lama be greatly stimulated in foreign 6 localities I 1 am t told 01 dy foreigners when they can get silver will take no other W JJ money large amounts of this silver would be hoarded 0 which means a greater demand for metal for coinage purposes 05 it the government makes enough over fifty e cents on each silver dollar coined to be able to ship dollars free of charge to banks were this arrangement perfected the demand for hard money would be enormous I 1 am told that the minute this bill becomes a law there will be immediate a demand for over dollars of last session the bill passed the senate but was lost in it the house strenuous efforts are being made by mr D mcbeth and other idaho mining men to have the measure revived and passed during this session |