Daily Los Angeles herald., 1883-12-11
a cRrAr lmrERMArIoMAL movfMfmr
The Foundation OF Financial Mil
lennlum-A Great Work Begun in
H.arncaf

iennium-A Great Work Begun in
Earnest.
An International Bi-metallic Monetary
Association has been formed in New
York. one each in Belgium, England and
Germany It is to be hoped that many
of the citizens Of Los Angeles. San Ber-
nardino aud San Diego counties will join
the New York Association and help along
the cause to which the organization 10
pledged. Some Of the ablest financiers,
merchants. manufacturers, lawyers and
statesmen of the United States are mem
bers Of this important association
Among the names of gentlemen who are
ct work in getting the association into
working order are d. o. Mills. Ulysses
8. Grant. Hamilton Fish. A. A. Low. d.
@. Croly. J. B. Colgate, Mayor Edison.
of New York, A. s. Hatch. Peter Marie.
John Thompson, Henry Clews, J.. A.
Griswold, Rufus Hatch, A. R. Chisholm
and others. These gentlemen are pledged
to carry out the sentiments that have
been 80 often expressed in the HERALD
on the silver question. which is one Of
vital Importance to the city of Los An
geles. and in fact to all Of Southern Cali
fornia.
The intention OF the association is to
bring about the free coinage Of silver,
aud its uniform legal tender power
throughout the world, and uniformity
of money in the world, SO that all ma
tions may harmonic in their standard Of
values, with fixed relative standard Of
value between silver and gold, which
shall form the specie currency Of all
nations.
When this shall be done, the friction
and risk Of adjusting exchanges between
nations will be done away with. and
large amount of time and money saved,
which is now wasted in calculating the
difference in exchanges between differ
emit nations. The stability Of values of
the money Of all nations would prove of
great importance to travellers, who are
now compelled to have their money
changed when passing from one country
to another. Importers and exporters Of
merchandise would buy and sell with
the same medium of exchange. and be
spared from the heavy losses that often
overtake them by the present mediums
Of payment.
Such an association is one of the
grandest that can engage the attention Of
the commercial world. It harms no.
body and blesses all nations. Its i'm.
portance to this State. to Arizona, New
Mexico. Colorado. Utah and the rest of
the territories is especially great. It's
importance to thi. city is greater thai is
at first glance perceived. By the tri.
umph Of the principles cnunciated by
this association the silver producers of
Southern California will gain about 22A
per cent. on all the silver they produce.
This production now amounts to 81, 5OO,-
coca year and is daily increasing. On
the present yield the saving would be
1861, 900 annually to our silver producers
in the three southern counties of Califor-
mia. 1t would prove profit Of sl0c, 900
annually to the owners Of silver mines in
the city of Los Angeles. above their
present profits. This would quicken the
pulse Of trade along our streetz and rail-
ways and assist in developing the indus
tries Of the country.
Bat there il another and a greater
benefit that Los Angeles would derive
from the success Of the principles of this
association. In the city of Los Angeles
there are many men who have valuable
silver mining claims that abound with an
abundance Of low grade ore, that cannot
be protitably worked under the present
degradation Of silver made by the Black
Friday makers Of New York. More
than 100 good silver mines of this low
grade ore are owned by gentlemen in
this city who would develop them If sill
yer were restored to the character of gold
and enjoyed free coinage. These mines
are all located in Southern California
aad would be tributary to Los Angeles.
With free coinage, and silver graded
with gold, each at fixed rate and weight,
there would be one hundred mining
camps established in this part of the
country. all OF which would trade in
this city.
This picture is not overdrawn, bat is
the warm -blooded fact, and it behooves
our people to stir themselves and unite
with this association, and by their con-
nbutioR OF ideas and sinews of war,
enable 1t to accomplish its miss,on
among the nations. The project is one
of tho great projects Of the age and can
not be too earnestly advocated. Such
men o. Lieutenant Governor Daeeett,
Judge Conklin. Col. H. II. Markham. c.
N. Hasson. R. W. Waterman, VIM. Ray
mopd. J. B. Osborne, ]. s. slauson. I.
W. Hellman. r. F. Spence and Others
would be valuable addition to the
membership of this association. and we
trust will unite with it aud help roll on
the ball till it is placed on the pinacls of
achievement and financial millennium