Show SAVING THE FACE OF SILVER in a speech de livered delivered at a dinner given the engineers and visiting b dignitaries at gold hill recently by bulkeley wells and staff of the united comstock mines company senator key pittman of nevada outlined a plan for the extension of the life of the pittman act which he considers practicable and possible of achievement and that will in 1 sure to the lasting benefit of the united states in an interview with the nevada mining press pi ess later senator Pitt pittman nian went further into detail in explanation of or the situation he said that recent developments in china have solidified the great country and that politicians of 01 north china and south china are now inclined to get together for the benefit of the entire country to establish a stable central government that the rulers of north china are willing to abdicate in favor of dr sun yat sen pres pr ident of the republic of south china for that purpose china of all things needs silver for the transaction ot of its business and the acquisition of large ab quantities orthis of this metal alone will stabilize this great country the oil only ly source of supply is the united states which can easily sup OF ply the needs of china without loss to itself and thereby can strengthen a friendship that exists and by the extension of the the trade of 0 credit can largely increase china with our mier chants china is unable to go into the open market and buy silver as it has not the credit nor the wherewithal until a stable government is established to make the necessary purchases moreover if such large purchases were made silver would quickly advance to one dollar per ounce the advisable thing to do in senator Pitt mans opinion is for the united states to sell to china on oil credit such silver as will be required at one dollar per ounce there would be no loss sustained by the united states because it has a large stock of the metal none of which cost to exceed a dollar per ounce and china would benefit by cecur ing the metal that is vital to its existence the pittman act authorized the government to melt up silver dollars and sell the silver at 1 per fine ounce there were melted up dollars containing about ounces leaving the silver in 78 dollars that the government may sell under this act and which china desires to buy the pittman act may be further extended by congressional legislation without endangering the silver stocks held for redemption of coins further plans for the protection of silver are to be considered by a committee appointed in washington recently at a meeting of western senators of which senator pittman is chairman |