Salt Lake Telegram | 1920-02-27 | Page 12 | New Financial Move

1 11 1 I. I New Financial Move II WOULD be to American America f financiers na cie a and d silver ro-I ro 11 rT T interesting interesting to s. s producers pro pro- producers to learn just what is back ack of Great Britain's move move to 1 r reduce uce practically by h half lf the silver content of its subsidiary coins t Alre Already dy the second i of the silver siller coinage bill ill in the l house ouse of commons h has s be been agreed to and as the bill is a g government measure measure the indications are that within a sh short rt time it it will become a law M t 1 Naturally it might be presumed that the thee plan of reducing the silver er content from the the- percentage that has prevailed for many manyI b ado ted for the of effectually e ally checki years years w was v s being ing adopted for e purpose of checking g the the the- melting of the coins coms for the sale of the silver content as bullion bul- bul bul I lion However the fact that the plan proposes a reduction practical practically practically o of half the half the silver content and far below the point which v would uld make the coins m more re valuable as as bullion than their face fl 1 value is s sufficient to arouse arouse a a. suspicion idon ion t that 1 lt some ulterior andI and r reaching far f r-r r aching motive is an incentive for Gre Great t Britain to to debase its s subsidiary c coins ins 1 I It is certain that the unpacked billions of paper money of f h Europe and not excepting England must be validated before exchanges ex ex- changes can b be restored to anything like nu normal mal and It Its is equally b j certain ain that t there e e is not enough silver available to v validate these thesey y RA 1 ls issues ues of paper notes note f i I It is possible England's England coinage move has for Its object t the e 1 1 reduction in the demand for silver vert with a con consequent re reduction in inthe 1 the the price to a point that might relatively correspond to its proposed pro- pro il r posed debased coinage and thus be abl able to o construct a base baseA A although gh imaginary to a certain extent for extent for t-for for its pap paper notes 1 I P Whatever England's object in connection with the movement nt Jp the result result will will be awaited with consi considerable erable interest inte s by th the r ret re- re t i of the world and especially by the United States as asp the gre greatest test of f all aU silver p producing count countries es