Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1880-10-02
THE SILVER QUESTION AGAIN.


presidential struggle one does not
find it easy to look beyond the sur
face and anticipate questions not at
present under discussion; still less
is it easy to attract the attention of
eager combatants to matters outside
the fray in which they are engaged.
For all that, it is evident to us that
one question which not long ago
sOrely perplexed mems minds in
Europe and America, is making, its
way to the surface again, and will
imperatively demand the attention
of Legislators the world over, and
that at no distant period. We speak
of the silver question. Two causes
are now forcing this question on the
minds of thoughtful men, and will
shortly, we think, make it the SUBJ
ject of popular discussion in congress
and elsewhere. These causes are:
First-The great falling-off in the
profits of silver mining.
Second-The growing difficulty
experienced by nations and business
concerns in settling their balances
on gold basis.
The first of these two matters is
easily established as a fact. To do
so as briefly as possible, we clip the
following from Chicago paper:
Western mining stocks are just now in a
condition that is certain to drive invest
ments from this class of property. Some
time since an effort was made to put blocks
OF these stocks upon the the London mar
ket, but the London capitalists naturally
asked TO see the dividends from real earn
ngS. As these were not exhibited, the
stocks were not sold. Now, Investors in
nearly all the Pacific coast mines are being
freely bled for assessments over and above
the earnings. Thus the California mines for
the present months necessity ask for $780,
300; the Nevada, S665, 100; the Utah, So 900, or
a total OF l,O9i, 600. This at the rate of over
Sl2,OOJ,OO0 a year. For the first nine months
OF 1878 assessments were S9gjO,OO0: 1879 SILL
Dis. 500 1850, SlO,2 1900. These figures show
that deficits are annually increasing. The
iaet Is either the mines are not paying as
well as formerly, or the wealthier stock
holders are subjecting the poorer to what
has been graphically described as the freez-
ing-out process.
The facts herein stated are what
we desire TO present to our readers
minds rather than the theories on
which our contemporary accounts
for them. Still, we think it not I'M
likely that both the suggestions are
grounded on fact. We think it
certain from what is stated that the
expenses of silver mining are in
creasing and it's profits declining,
and we think it very probable that
the great shareholders desire to
freeze-out the smaller ones and buy
up their shares cheap, which would
only convince us that those shrewd
gentlemen are specializing on fall
in silver to be followed by rise.
We are the more disposed to this
because it exactly tallies
with what we have been led to an
ticipate from natural causes.
VIII our readers endeavor to fol-
low us in an enquiry relating to
silver mining and silver currency,
which we promise shall not be very
abstruse, and which is of capital
Importance to the people of the
United States as inhabiting the
chief silver-yielding country in the |
world?
1t IS well known that silver min /
ing as an occupation yields smaller
of profit on the capital en- |
ployed than any other which is as
extensively pursued. The cause of
this is mainly the fact that the ex- |
traction of the ore from the mine /
and of the metal from the ore are
both much more expensive pro-
cesses, pound for pound, than in the
case of gold, and that when extract
ed, the pound of silver is twenty
times less value than the pound of
gold. But necessary consequence |
Of this Is that it requires but a small
reduction In the price of silver to
lGuuGA ANc RAO00NAAO1 uuDEOuIAOIe.
and thereby to drive capital from
the occupation of silver mining. |
We believe that that reduction is
low taking place, and that as q
many mines will for a
lime be temporarily abandoned
small capitalists engaged in the
business viii be ruined; large ones
will wait for rise and make enor-
nous profits. What we believe to
be the case is that there has now /
a real fall in the price Of
liver for the first time, its depreci-
.tion having been hitherto only
This will seem to most
eaders a strange assertion, to those
that is, who have been OBJ !