| Show 1I I INDIA AND SILVER Mr I Moreton Frewerx writes from London 19 Gen A J Vainer that the scheme for imposing a gold currency upon India has broken down I his I been found impossible to accumulate 0 gold reserve by which to hold the outstanding rupees up to the fixed gold I Interchangeablllty and to melt down such rupees as come into the Government Govern-ment treasury in the course of operations opera-tions and sell the bullion for more pold with which to redeem more rupees ru-pees The trouble Is to force gold Into circulation The natives are unfamiliar unfa-miliar with that kind of money and I their transactions are too small to deal 1 in gold The Indian i Government < against Us will n been forced Into I I coining rupees on its own account and It IB as busy now ul work adding I to the silver circulation oC silver as It was a while ago In reducing the same 1fl Frewcn believes that gradually the Government of India will be l forced 16 reopen the mints to the frcf coinage I oC rupees Ho says the yellow man has pronounceddccldcdly for the white dollar and that in fact his hope of n general restoration of silver under n bimetallic monetary system finds great encouragement H that comes it Alll have to be as outlined by The Tribune the other day by making the rich men of the JCast believe that It would be bettor to give silver a value as money rather than as a commodity and pu hIt h-It upon the millions or Asia who need It and whose trade is scf heavily restricted re-stricted at present because of the want 1 of It The tremendous increase of gold from the mines is already making I those philanthropists uneasy because the value of gold has been reduced measured by property fully 20 per ent I I In the last year and a half and with the promised Increase in the yield of I I gold for the next fifteen or twenty years it is easy to see why they are worried They arbitrarily demonetized silver tAventyseven years ago They I did It to restrict the money of the world that the poor might never get out of debt that Interest might be permanent per-manent in its purchasing power and the plan was for the mosses to work for the classes and to build up In this country aristocracy of wealth But now gold has come In so plenty that the Interest they collect this year Avlll only buy SO per cent as much of the words products as it would buy two years ago and they are worried It I I Avlll not be long until we shall learn of subtle plans to limit the coinage of gold and the gloomiest spectacle In antIcipation in the world Is when these same gentle creatures beam to cry out I about gold as they did about silver I four and six and twenty years ago that It Is S plenty that It Is no longer a precious metal What they Avlll want to substitute next time as a standard of values It Is hard to tell I Is possible possi-ble they will all turn Populists and conclude that gold and silver arc mere commodities and fasten to a paper 1 standard At present all men who believe be-lieve that silver was grossly slvcI Sosb wronged by law are getting their pocket handkerchiefs hand-kerchiefs ready to weep wIth these philanthropists when their day of sorrow sor-row shall come |
