To the Editor of the "Noren-Citina Dany News"
Suy—Why call In and pay fora Kemmerer commission if the country isn't Ready to follow sound advice? China fas been accustomed to. silver for Jeenturies—she is. geting raplaly ac-Customed to paper, so she might as Well hog. tie it 4 something. The hoarded silver in China is not a factor Which can Influence the exchange of old for silver, Silver stocks in the financial nerve centre form the deter mining factor as far as foreign trade concerned, 'These stocks are stp= posed to be—at the present time Zomewhere' in the neighbourhood of 820,000,000—provided. the "Genth men's Agreement has been kept pee cent. of which is in the hands of Be Government. controlled banks Most people are fully aware of the limitations of the Navking Government, These limitations do. not Prevent action being. taken, The World "does not, rade directly with Stechuen, Kansu, " Kweichow—it irades through the financial centre of China "over the Banks of which the Government now. has control, Let's stop kidding ourselves while we HIll have litle life and kick, China's. "Government believes: it cannot take action until it knows the extent of the American Programme.
Undoubtedly Tam not fully posted in thave matters but Tm damed If see why China should walt.
Of course if silver goes to $1.20, China would tecelve more gold for her sliver but Its a davit of a gamble in the face of what America may find moreover by that ime the extent ft. the adverse" trade. balance may overwhelmingly effect the advantages gained by walling for the Silver Senators" goal No Mi Shanghai, May 16,
Text read from the printed page and cleaned; old type leaves the occasional error.