Elmore bulletin. [volume] (Rocky Bar, Idaho) 1889-1906, 1890-10-11
SPECULATION IN SILVER.

The luctuating tone Of the market,
as regards silver, for the past few days,
was something OF a surprise 10 the
West, as every one here supposed that
the metal was on solid, substantial
basis. The following dispatch and conl-
ments theron by the Salt Lake Stock
Exchange Journal will throw some
light on the subject:
New York, Oct. 1.-Thers was tire
mendous speculation in silver bullion
yesterday. The sales of Ger Ificates |
alone amounted 10 920, 600 ounces, and |
private transactions TO perhaps half as
much more. IL looked at one time as
| il the spectators were close TO disas-
ter. Soon after the opening Of busi-
meas, quotations dropped 10 100 "a an
ounce, loss OF Ia from the closing
price Of Monday. The decline was in
sympathy with the London market,
where quotations fell TO 40 5-Sd. The
big silver spectators stepped in tu
avert wreck, and commenced 10 buy
silver irrespective OF London prices.
Although New York is supposed 10
follow the London market, the prices
here steadily assembled until liz IL
was reached, IL points higher than
Mondays closing figure. A thing that
helped put up the market was the fact
thai the October purchases Of silver
bullion by the government began to-
! day. There is enough silver in New
York alone 10 supply the government
Tor two months.
When the compromise measure went
into effect, every one interested in the
subject supposed that IL would answer
/, the requirements Of the country 10 q
: certain extent, aud IL would, had il not
( been for the innate love OF speculation
inherent in the breast Of every New
|, Yorker with money enough to invest
. in anything.
! There is no law that we know Of x
prohibit such speculation, and rs 4
: natural consequence silver will suffel
just as long as It is in tine market t.
be traded for aod speculated on as I
commodity. This state OF affairs is toe
J. bad. The money OF ths people, placed
! in the treasure vaults OF the noun
: tains by mother nature for the use o.
: her children, should not be allowed Il
+ remain in such a position that il car
1 be disgrsced aud degraded by the sor
did greed and ayarice Of few Wal
!, street brokers.
The only true and effectuai remed,
for this state OF affairs lies in FREQ coin
age. aud until that is reached silvel
will be at the mercy of every Tom
= Dick or Harry with money enough Il
8 speculate in certificates. II is wen
der and a mystery 10 honest men, no
Y versed In politics, how people entruste.
! with the country's welfare can triti,
' with their own and their neighbor
/ beat interests by trying to ruin th,
very foundation OF all the social anl
business structure Of the common
wealth, by demonitizing the circulat
ing medium. Vet such IL the cas-,
: and there are men to-day representing
the people OF the United States Il
+ Congress who would, for the sake o
}. their friends, the spectators in Wal
street, cast discTedit ON their countr,
and their people by demoralizing tn,
currency Of the nation.
g Free coinage 10 the only safe refug,
for the much tossed financial ship o
state, and the sooner il is reached IN.
. sooner will the financial standing o
the country be assured.