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Hokitika Guardian, 11 February 1920, Page 2

Tun record price of silver, the English shilling now being intrinsically worth from fifteen to sixteen pence, is entirely due,” stated Mr Mar. old Beauchamp to a New Zealand “Times” reporter last week, “to the enormous shortage of silver, and the strong demand for it in those countries, such as 'Egypt and India, which have so large a silver currency. Tlie isame difficulty is occurring in certain parts of the Continent of TCu. rope, where silver in the past has been very largely used. For example when I was in France some two or three months ago, it was quite impossible to get from a bank more than ten francs in silver at a. time, as the intrinsic value of the franc was greater than its face value. Considerable quantities of silver francs bad .been hoarded In France, especially by .the peasantry, who are renowned for the longth of

their stockings. As to the German mark, the laist quotation I saw was on the basis of 1 l-3d, which would represent a reduction of 10 2-3 d on the pre-war value. This has had the effect of causing an enormous number of people in different parts of Europe to flock to Germany, where the cost of living is now lower than in any country on the Continent. It is brought about by the ability of. these immigrants to sell to great advantage their drafts on countries to which Germany is indebted. They are able to realise roughly 170 marks to the pound sterling, as against 20 to the pound before the war. In short, after making allowance for the great rise that has occurred in all descriptions of commodities, there is still a big margin between the price they have to pay for goods and the profit they can get on the sale in Germany of their drafts on other countries.”

An MIRA i, Sims of the American Navy is a pro-Britisher. Mr- Daniels at the head of the American Navy has so styled the Admiral, and he does not iike his Admiral accordingly! Admir- 1 al Sims is an outsnoken man, and be 1 lieves that with English speaking 1 people “blood i s thicker than water.” 1 He made a speech on those lines in 1 pre-war days and was hauled over the diplomatic coals accordingly. During the war he co-operated with the British Navy as one who recognised what the British Navy had. done. He was not one who believed that America i could win the war off her own bat. He ; recognised when America came into the ; war that her navy, and her army had much to learn before getting into the open. For that reason and for his part lie was prepared that the ships under his control should assist with the menial work before venturing to take on the big jobs which could be tackled successfully only after a period of zealous training. So when the war was over, Admiral Sims was content to give credit where credit was due, and that was mainly to the British. He described America’s part with extreme modesty, and for that fairness and mod- ! esty lie was dubbed by Mr Daniels as a British propagandist. Mr Daniels presumably is not of that ilk. He is more of the typical American who believes in big things and says them in a big way. He wants America to have the biggest navy in the world. The dovelike speeches of his President have up part in hi s creed. Air Daniels and Admiral Sims appear to represent two schools of thought in the United States, The former was the talker, and the latter the actor. They both went through the rigors of the war.- The former viewed it from afar, and the latter from a close inspection—an actual worker, Admiral Sims should be the better informed of the two, and his view should carry the greater weight with his countrymen. Thp stand he takes j s an impartial one, and the views lie gives expression to, while they may j not please his chief, must come at least ! from a sense of clear conviction. They are entitled therefore to the fullest respect. f