Show HOARDING OP OF SILVER BEGINS IN EUROPE A LONDON financier ot of the sixteenth century thomas gresham took note of the tendency of inferior forms of 0 money to drive out the superior forms says the mining american of denver this tendency Is known to economists as G gres es hams law it serves very well ft t this time in explanation of 0 the seeming scarcity of the white rectal metal in great britain the visible reserves of the white metal are very small in comparison with the usual amounts available tor for circulation it Is emulating the disposition of gold to take to cover in times of stress england among the other belligerent nations has hag been forced to the use of money forms that arminter for to the lately despised silver the hoarding boarding of which reveals sentiment of confidence in it among the people sliver silver la Is still a royal metal whose monetary quality asserts itself in spite of every reproach so long as the exchanges ot of the world are disturbed and the great na nations eions of europe are in tear fear ot of bankruptcy those forms of money which derive their value from the credit of frightened governments will circulate in the hands ot of the people and the file commodity nature ot of the precious ois metals will give them a superiority which suggests a reversion to the age ot of barter additional strains upon the credit of 0 nations are certain to increase the demand tor for silver and to force its price to higher figures another aspect ot of the problem Is discerned in the increased reserves of gold in the united states the yellow metal Is being driven to the united states because the people of this country are creating without destroying by force of circumstances they are becoming self belt suf focient fici ent without the united states would it not be impossible tor for this great war to be fought |