Los Angeles daily herald. [microfilm reel] (Los Angeles [Calif.]) 1884-1890, 1889-11-20

WEDNES Nov. go, 1859.
Better Times Ahead with Remone-
tixed silver.
Nwould look as If the next Congress
would make a very marked departure in
q line favorable to silver. When SEN
ator John P. Jones, in a recent visit to
Los Angeles, was interviewed by rep.
resentative of the HERALD, he unhesitat-
ingly avowed his belief that the next
Congress would remonetizs silver. 1t is
. notable circumstance that John Sher-
man also seems to think that silver is
worthy of recognition. The movement,
which has its initiative at Denver, and
which will be sympathized with by the
whole p ,pulation Of Washington, Oregon,
California, Colorado, Idaho, Montana.
New Mexico and Arizona, and which
will be largely represented in the St.
Louis Convention, will probably domin-
ate the next Congress. Years ago John
Sherman said that the way to resume
specie payments was to resume. This
was a sagacious observation that was
credited to Grant. It may be
readily said that the way to remone-
tie silver is to remonetize it. The
whole world, outside of London, is ready
for the new departure, and even London
favors it in the persons of some of its
most responsible financial authorities.
including the chairman of the Bank of
England. All the leading French fnan-
ciers, Baron Rothschild amongst the
rest, have for years been on record to the
effect that silver, remonetized and re-
stored to its old relation to gold, is q
sine qua non to restoration of fiscal az
fairs to their old time wholesome stand
ard.
This sentiment as to silver is becom.
ing universal, and it is having a most
wholesome and stimulating effect upon
the mining Of silver and gold, and not.
ably upon silver. All through the Pa
sific Coast States and territories prospect
ing is going ahead as never before. In.
quiry as to valuable silver deposits is be-
unprecedented with an energy that would
never have been possible under
q regime that regarded silver as
q metal that was a mere play
thing of capitalists, whose value was de-
pendent on caprice or intrigue. In
Southern California, which is notably
rich in silver, this impulse is felt very
strongly. Nearly all the silver yield re-
corded in this State has been drawn
from the measures of Southern Califov-
MIA. As against gold yield Of nearly bill
lion and quarter Of dollars, az recorded
by Wells, Fargo 4 Co., we have only had
silver yield of about one hundred and
thirty millions, but most of it has been
produced within a short radius of Los
angeles, and the bulk of it haa
been exploited in the last lustrum.
Silver mining in Southern California and
IN Southwestern Nevada and Utah, is
but yet in its infancy. With the rail-
way developments that are at present
under way we can confidently look for
results in the region tributary to Los
Angeles that will equal or exceed any
thing that has assisted to build up Denver
or Leadyille.
It is sickening thing to have to
recapitulate the treacherous device by
which silver was demonetized, but we
have it upon the authority Of half the
Senators OF the United States that the
act which demonetized it never really
passed tnas BODY. i was ;; :a,red In tho
Revised Statutes. II 1873, by come p,..ser..
able tool Of Wall street, and his act b AZ
done more to impoverish the world t.nan
any war Of ancient or modern time q, If
the United States shall throw itsAlf 10y
aoy into the breach by mixing the
standard dollar a legal ten der Tor all
debts, public and private, and if the
officers connected with oar fiscal affairs
are compelled to stand loyalty by the
new departure, silver within a year will
regain it's old standing relative to gold.
1t was only the other day that a mono
mstalist said exultingly that silver was
no longer one of the precious metals.
Fortunately for mankind this too
confident fellow spoke without his
host. The disappearance of silver from
the money exchanges of the world would
bankrupt every debtor on earth, and
would justify such revolution as should
result in q redistribution of wealth.
Happily, however, this devotee of the
single standard reckoned without his
host, silver is again on the up grade, en-
terprise will be quickened everywhere,
and once more there win be some attrac-
tons in speculation.
A Pan.A merfcan Lesson.
The Pam American Convantinn now in