The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1883-03-28
The Worst Enemies Of the Silver
Industry.

Herostratus, the fellow who burned
down the world-famous temple of
Diana, at Ephesus, for the sake of no
toriety, is the prototype of those jour-
nalists, who, at seats of the industry
of silver mining, on every possible oc-
casion, are urging that the dollar Of
4124 grains of standard silver ia not an
honest, proper monetary equivalent
for the gold dollar Of Is $40 grains,
nino-tenths fine, and that its coinage
therefore should be discontinued.
Practically, what these modern noto-
riety-seekera work for is the degrade
ton of silver from the rank of a
money metal, or its disuse as a money
factor everywhere. Unquestionably
that would be the inevitable result
should this country, which produces
nearly if not quite fifty per cent. of
the silver supplied annually by the
mines of the earth, determine that
silver cannot any longer be honestly
coined and used cOncurrently with
gold at the rate of 4124 grains, nine
tenths fine, to the dollar, inasmuch,
as the present full legal-tender
silver money of Europe and
Asia, to the extent Of more
than $4,000, ,0OO, 900, circulates at
valuation in gold of 3.O6 per cent.
higher than in our standard dollar.
When every other people are using
silver, including the Indian subjects
of the British Empire, to the extent
of more than $4,000, 600, 600 in all
their daily business ana retail deal
ings, for any one to. set up that our
people, nevertheless, should not use
the product of their silver mines as
money at such rate as in the dollar
Of 4123 grains, logically, is to say
that silver is no longer fit for money
purposes; and to say this, were to say
in substance that an end should be
put to silver mining at Butte, Mon
tana; at Leadville; at Eureka, Ne
vada, and at Tombstone, in Arizona;
9t the Ontaripa and Horn Silver
rmInes in Utah; ia the rich mines of
WnXd River. Idaho, and in the San
,Jaas- s-srr gi,,,, Of Colorado, net to
speak OF the silver mines of Mexico,
to reach which so much American
money is being spent in the building
Of railways.
OF all peoples ours have the great
est industrial interest in maintaining
silver as a money metal and at the
rate given it to the extent of a full
legal tender circulation of 81 ,O00, ,0OO,-
600 in such leading commercial states
as France, Germany, Austria, Hol-
land, Italy and Belgiam-a rate, we
repeat, 3O6 per cent. higher than
that given to silver in our dollar of
412k grains. Therefore, it were un-
speakably insensate for our govern
ment to do anything whatsoever, cal
culated to make eirremediable the pres
ent depreciation of the commodity
value of silver below the value given
to the metal in so leading CONNER
cial country as France. Should the
United States decide not to coin
hereafter the petty sum of
fifty cents annually, per head
of its population. even at the
rate of Is of silver to one of gold,
when the French people have silver
circulation of 5000, 900. 900, at the
ratio to gold Of Isl to one, fora populs-
ton not exceeding 3S,OOO,OOO souls,
would in effect decide that silver is
permanently deprecated. and UNI
stable in value that the country
which produces the most of the
worlds annual supply of the metal
does not any longer regard it as fit
for money purposes. And he who
does not see and comprehend this is
an incurable blockhead, and at the
same time a particularly mischiev-
Gus one, if located at and teaching it
from mining camp.-Mining
Record, March 18th.