| Show t pittman would extend aid to sliver silver mines western mining men are maul man considerable interest in senator littmann litt I 1 ittman mans s plan to pi along the period during which the united states treasury department will pay 11 1 an ounce for silver at the pre sent time a combined total of ounces has been bought of the original 0 00 ounces leaving 74 69 ounces of the order to be bought this total at the prevailing rate of production awill I 1 will be tilled filled in fourteen of fitten fifteen fitte n months senator pittman s plan for the ae extension of the pittman act is for the united states government to lend the chinese government 78 I 1 I 1 in silver the pittman act autho iced the government to melt up silver dollars and sell the metal at 1 per tine fine ounce but dollars containing about 2 0 9 0 0 0 0 0 0 ounces were vv ere I 1 leaving 78 dollars that the government may sell under this act and which it Is said china desires to buy of all things it is agreed chini china needs silver the most for the tran action of its business only by the acquisition of large quantities of this metal can financial conditions be stabilized the only source of supply is the united states which senator pittman believes can easily supply the needs of china aitho it impairing domestic prosperity A loan of this kind would strengthen i the friendship which existe n the two countries and at the samp time increase the trade of china with america at the present time china cannot afford to go into the open market and buy silver as it has not and will not have the credit until a stable government Is established more 01 er it if such large purchases were to be made the silver market would be upset and the price would probably advance to 1 or moie moe in senator pittman s opinion the reasonable thing for the united states to do la 19 to sell china on credit such silver as is needed at 1 an lounce ounce by such an arrangement the united states would sustain no lose loss tor for the treasury has a large stock of the metal none of N which aich was pui pul chased at a cost exceeding 1 an a ounce recent developments in the orient according to senator pittman would justify such a course the poll itic ticiano ians of north china and south china are now inclined to get together tor for the benefit of the antle e country and establish a strong central government the rulers 0 north china laid ald senator pittman in a recent address made in nevada seem willing to abdicate in favor of ur dr sun 1 at sen president of the re public of south china it if this plan is agreed upon it Is believed that the I 1 ittman act can be further extended by b congressional legislation without endangering the silver stocks held tor for the redemption of coins |
