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Show THE SILVER OUTLOOK , At last a silver plan has been advanced which seems to b acceptable to the banker, the miner and the industrialist anc the outlook for the white metal is better than at anv time sinc it was demonetized in 1873. The newest plan, which it is understood will be backed b ii.e United States delegates to the world economic conference pro- ides for the inclusion of a small amount of silver in the monetary mon-etary reserves of the world. The first objective of the delegatior will be to effect an agreement between nations for no furthei debasement of coins, and to increase the ilse of the white meta in subsidiary tokens. The plan proposes the reduction of gold coverage of currencies, currenc-ies, using 20 per cent gold and 5 per cent silver. In other words the metallic coverage of the currencies would be $4 in gold and ?1 in silver. Local mining and business men are greatlv encouraged over the recent developments and believe that the' adoption" of this plan at the World Economic conference would stabilize the white metal around SI per ounce. , This proposal has met more favorable favor-able response than anything that has been suggested to date. Recently the silver movement has grown world wide in its proportions and high hopes are held that the London Economic conference will be able to "do something" for the white metal. While Congress as a whole has not issued anv orders on the subject, it is well known that the' sentiment is in" favor of silver stabilization as the senate passed a' resolution urging the delegates dele-gates to work for bimetallism on a ratio of 16 to 1. This resolution resolu-tion is still in committee in the house, so it appears that the delegates dele-gates will attend the conference uninstructed. Under the inflation infla-tion bill, they have the power to act on silver as thev see fit however. ' ' If only the first two proposals are adopted, i. e., for the outlawing out-lawing of further coinage debasement and increased use of the metal as a subsidiary coin, which are considered well within the realm of possibility, silver should become stabilized somewhere around 60 cents an ounce, according to estimates of local authorities author-ities who have taken an active interest in the silver situation Y estern Mineral Survey. |
