The silver state. [volume] (Unionville, Nev.) 1870-1903, 1880-07-24

Before the demonstration OF silver,
by act of Congress in 1873, silver bull
lion over $50 fine commanded premi-
Inn Of from one to four per cent. OF its
assay ralue in San Francisco. That is,
bar of bullion which assayed 81, 900
was worth in the market from 81 ,Ol0 to
$l,O4O. This encouraged the develop
iiieht of the silver mines of Nevada, and
tae State was prosperous. Congress,
in the interest of the bondholders, at the
suggestion Of European financiers, in
1873, demonetized silver dollars, which
up to that time were legal tender to
any amount for all debts, public and
private. The bonds could be redeemed
in silver dollars, and as this did not
suit the bondholders, their friends i'll
Congress passed the bill in their inter-
est. At the time the bill was passed
Congress was overwhelmingly Republic
CAN, and when Senator Jones Of Nevada,
and Representative Bland Of Missouri,
undertook to repeal the Act of 1873, by
introducing what is known as the ''Sil-
yer Bill, the Territorial Enterprise at
tempted to excuse those who voted for
the decentralization act, by saying that
congressman, except those who had
charge Of the bill, did not know what
it was intended for However, the Re-
politicians, as pastisans, refused to COR
rect the mistake, only few of them
voting with Senator Jones to pass the
Silver Bill, and then only after it was
emascnlated of every provision intended
to benefit the mining interest. The
bill, as it passed the House of Repre-
sentatives, placed silver on the free
coinage list with gold. This provision
was stricken out by majority Of the
Senate and even in that shape it did
not suit Hayes, who vetoed it.
Now as one of the consequences Of
the Act of 1878, and the re-
fusal of the Senate to pass the
Silver bill, as it passed the House, the
ShOOO bar of bullion, which prior to
1878 commanded premium of from
$40 TO $50, sells at discount of from
eleven to sixteen per cent. In other
words, bar of bullion which ASSAYS
$1,000, sells to-day for about 1860.
That is one of the reasons why times
are dull in Nevada, and the mining in
terest depressed, Mines which could
be worked at small profit. when sill
ver sold at its assay value in the mar
ket, cannot now be worked without
loss. Where the margin between
profit and loss in mining was small, the
difference between premium of two
or three per cent. and a discount of
twelve or fourteen per cent. is so great
that The mines have to be abandoned.
Is it The duty of the people Of Nevada,
whose prosperity depends to very
great extent on silver mining, to sup
port for President man who opposed
hepassage of the Silver bill, and who
is known to be III full accord with the
President and the Secretary of the
Treasury. in opposition to silver? Why
should Nevada, which almost unani-
n1ously Endorsed Senator Jones because
of 'his advocacy of the mining interest,
vote for General Garfield, whose vote
is on record against that measure? Is
itnot our first duty, as citizens, to sus.
tain the party which is in favor of re-
storing silver to it's old standard, that
prosperity may again return to the
State, and that it's mineral resources
maybe developed?