, 1889-10-24
a GAIN FOR SILVER.
Denver Republican,


Silver advanced to 93I9 cents per ounce
at Mondays call in New York and Lon
don, the highest figure reached since
February % of the present year.
Has the policy of the administration
in Washington, AS it leaked out Satur-
day morning, bearing on this welcome
result?
In the New York papers for Saturday
rurnor appeared, with Washington
date, to the effect that it was likely the
monthly purchase of bullion would be
increased, at least temporarily, from
$4,000, 900 to 81, 900, 900 a month.
But friends of Secretary Window in
New York, who claim the right to inside
information, answered the rumor by
saying that the change was not likely
until congress meets and acts upon the
uuestion. They are not sure however,
but the secretary will recommend the
change in the interest of the money
market, in his message TO congress.
Even this would account in part for
Saturdays advance in silver followed
on Monday by another advance.
Congress WA be in session in about
seven weeks and while the demand for
silver certificates of the smaller denomi-
nations is increasing rapidly, and the
supply decreases as business grows
brisker, the New York hnanciers allege
that Secretary Window will not exercise
the discretion conferred on his office by
law 10 double the amount of the present
silver coinage.
The East objects. Secretary Window,
as the possible successor of Harrison in
the White house, listens to the East.
AS an offset to the Wall street influ-
ence 1t is asserted in Washington that
treasury officials have come TO recognize
the necessity for increased coinage, and
that rather than hamper the business
interests of the West and South with
close money at this time, they viii re-
sort to increased coinage OF silver and
a corresponding issue of silver certif-
Gates. Upon this phase OF the topic a
treasury official-not Secretary Window
lis quoted as saying:
The whole story of silver can be found
in the treasury statement showing the
condition OF our silver currency. BY it
lars in the treasury in July, 1886, was
so, ,OOO, 600 in round numbers. In July,
1887, 1t was x67, 900, 900. In July, 1888, 1t
was $40, 100000. In July, 1889, it was
$21, 900 900. On the 10th instant 1t was
but $5, ,0OO,OO These comparisons show
plainly that it is but question Of time
when the demand for silver circulation
Will bS btv"NS. viz oNPBif
What may be done with congress 60
close upon us can not be said, but that
something will have to be done is clear.
The business of the country is very brisk
at this season of the year, and people
must have more money for the circulat-
ing medium. The output of silver cur
rency can ho accounted Tor in purt by
the retirement of national bank circula-
ton. The national banks do not furnish
the circulation needed by the country,
and the government is called upon to do
so. 1t meets the demand by issuing
silver certificates of small denominations,
supplying the loss of national bank
notes, and meeting the requirements OF
trade There is no doubt in my mind
that the situation points clearly to the
prospect OF an increased purchase OF
silver 10 meet the actual wants of the
country.
This is good news for Colorado--good
news for the country at large. The bug.
a-boo of stored silver has at last disap'
peared and the advanced views we have
quoted above attest the value of the
work accomplished by the friends of the
white metal in congress and outside
The st. Louis convention could moi
possibly be held at more favorable