'To the Editor of the 'Nowrit-Cuina DAtty News'
Sin—A prominent. Chinese Banker recently complained of the flood of Tumours concerning Silver erganating from the USA, and the Gclay attending ary te. pro-ouncement from the Administra ing "their intentions, tly remarked was ex: tremely harmful to China's busi ness interests. I would like to give my humble support to Mr. Tatyee Pei and go one step further.
Surely time that the propaganda put "out by Mr, Pittman, and others of his" self-interested School of though. should "be eon-radiated, and. that his. statements that to raise the price of Silver will benefit the Orient should be ex. posed as the reverse of the truth, Tnealculable harm will certainly be ied. by 'China from any such 'Exports from this country, Which have been dwindling for Tong time, for various reasons, a bound to' diminish. still further [heights which rumour indicates, Wver is to be manipulated to the
fin fact, the only explanation {ee'such @ step ts immense Governmental purchases of Silver is the Gesire of America, and a perfectly legitimate one, to stimulate her own and pat a check on imports.
rise and fall of Silver from natural causes and ° forces. which movements "has ever some unknown tained for som per time will be a direct blow at China's welfare. That this blow should be struck on the hypocritical plea of conferring a benefit on China is a gross wrong.
Mr, Pittman doubtless thinks he /scer a great opportunity to sell his own goods to China at the high rate of exchange that may prevail here, but how can such sales be maintained if China's exports to he thus prevented from find-a market?
There is always a danger that oft-repeated statements constantly dinned into the ears of the ignorant come to be believed, and the time has come, if it is not already too late, to protest against this fallacy of Beneftt to China from an artificially enhanced price of Silver. Quite the reverse is the truth. it worth while to urge those in authority to put the plain case right up to Mr. Roosevelt himself, for even in the multitude of his duties
car to advice. Surely it is wort always seems, to lend a willing while for Bankers and merchants to take some steps to put forward some counter-propaganda to stop or delay if possible such a serious menace. to Chi sition. Mr. Roosevelt is bravely determined to Teave no stone unturned to benefit his country if he can, but mis: representation should be expose and I venture to. think he would welcome enlightenment, There 1s another matter a. a corollary, which may give dwellers in China' something to interest them, and: that is Possibility of a logical counter. measure from China in the shape of inflation of her own Dollar to meet these new circumstances, That cannot be dismissed as an improbability: i¢ would even appear to be more than a possibility.
Ciranues R, SHAW. Shanghai, Feb, 19
Text read from the printed page and cleaned; old type leaves the occasional error.