To the Editor of the "Nowr-Ciano Dasty News"
Sin=-in the issue of your paper of uly 19, page 16, there is Havas London "telegram under (he heading "China discussed at Board 'Trade:" "The telegram states (0 the effect that during. the conference [Lancashire deputation brought the Governments attention to "the fact that: Lancashire trade had been hit the Increased liver' price, which hag reduced China's purchasing pow: Jer"—The same question Is dealt with your la sue of August 9, Page 14, tinder the heading ith China"
it's generally acknowledged tha! China, the silver dollar fea com: modity rather than a currency "and, fis such, ie silver value is used fan exchange for other commodities. Chine pays for her lam ports in alyer, at any' ale for her great excess of imports. over exports 'The silver rice. has increased as_meosured. tering' and similar currencies and Felalive commodities produced founteles with. such currencies. It seems, therefore, correct to conclude ihatar fora theres ati some. silver ott in China, the increased. oilyer Brice has rather Increased Chin's purchasing power for such goods.
Ae sated, in China the siver dollar issued as at commodity and, therefore, the price of Chinese products auto" matically follow the silver price: The Jexchange value of Chinese goode for sterling and similar goods has, therefore. also increased which, a6 far as (Chinese products sill may be exports Jed, has increased China's purchasing power.
On the other hand, the increased silver price has very likely hit the Lancashire trade and, in general, all trades that are based on industries using Imported raw-materials that follow the silver price, ally native producers oppose any re-[duction in the quantity of silver, they Jare accustomed lo receive fit exchange. The trade of USA, who Is self-supporting in most raw-materials, Jdoes not suffer from an. increased silver price. On the contrary, it
Text read from the printed page and cleaned; old type leaves the occasional error.