Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1891-12-10

WlIuOub system WHICH lull prejnll
nary survey of the water supply and o
the irrigable lands would enable then
to adopt. The future of the territories
of New Mexico. Utah and Arizona il
their growth, independence and hap
piness of their people is very largely de
pendent upon wise and timely legislation
by their own legislature regulating the
distribution of supply furnished by
their streams. If this matter is much
longer neglected private corporations viii
have undesirable control of one of the
elements of life and patentees of the arid
lands will be tenants at the will of the
companies. The United States should bari
with its ownership of the water sources
in states and territories to individual
corporations only upon conditions that
will insure to the settlers their proper
water supply upon equal and reasonable
terms. III the territories this whole
subject is under the full control of con
gress, and in the states it is practically
so, as long as the government holds the
title to the reservoir sites and water
sources and can get them upon such
conditions as it chooses to impose. The
improvident granting of franchises OF
enormous value without recompense to
state municipality, from which they
proceed, and without proper protection OF
the public interests, is the most notice.
able and fragrant evil of modern legsa-
ton. This fault should not be commit
ted in dealing with subject that will be-
fore many years effect 80 vitality thou
sands of people,"
THE LAND COURT.
"The judges of the court of private land
claims, provided for by the act of March
3, 1891, have been appointed and the
court organized. 1t is now possible to
give early relief to communities long op-
pressed in the development of unsettled
land titles and to establish the possession
and right OF settlers whose lands have
been rendered valueless by the diverse
and unlounded claims"
FAvoRs BrMLTALlsM.
"Silver production of the United States
increased from 50,0O0,000 ounces in 1899
to "a, 700, 900 in 1890 The government
is now buying and putting aside annually
"a 900, 900 ounces, of which allowing T.
l40 900 ources of bullion to be used in the
trades, is 6,640,000 more than our do
mestic product available for coins. |
hope the depression in the price of silver
is temporary, and that after further trial
of this legislation will more favorably
effect it with the increased volume of cur
rency thus supplied for the use of the
people was needed; and that beneficial
results upon trade and prices have fol-
lowed this legislation, l think, must be
very clear to every one, nor should it be
| forgotten that for every dollar of these
notes issued full dollars worth of silver
bullion is at the time presented in the
treasury and a security for its redemption.
Upon this subject, as upon the tariff, nv
recommendation is that the existing laws
be gwen full trial and that our business
interests be spared the distressing in
t1uence which treats of radical changes al
ways impartedunder continued legislation ;
it is in the power Of the treasury depart
ment to maintain that essential condition
of national finance as well as of com
mercial prosperity-the parity IN use OF
the coined dollars and their paper repre-
sentatives.
"The assurance that these powers would
be freely and unhesitatingly held has
done much to produce and sustain the
present favorable business condition. |
and still of the opinion that the free coin.
age of silver, under existing conditions,
would disastrously affect our business in
terests at home aud abroad. We could
not hope to maintain an equality in the
purchasing power of the gold and silver
dollar in our own market. and in foreign
trade the stamp gives no added value to
the bullion contained in the coins. The
producers of the country, its farmers and
laborers, have the highest assurance that
every dollar, paper or coin, issued by the
government shall be as good as any other.
If there is one less valuable than another
it's sure and constant errand will be to pay
them for their toll and their crops. The
money lenders will protect themselves by
stipulatlng for payment in gold, but the la
borer has never been able to do that. To
place business upon a silver basis would
mean sudden and severe contraction of
the currency, by the withdrawal of gold and
gold notes, and such an unsetting of all
values as would produce a commercial
panic. l can not believe that people so
strong and prosperous as ours will pro-
mote such policy. The producers of
silver are entitled to just consideration,
but they should not forget that the gov
ernment is now buying and putting out of
the market what is the equivalent of the
entire product of our silver mines. This
is more than they themselves thought of
asking for two years ago. believe it is
the earnest desire of great majority of
the people, as it is mine, that full coin
used shall be made of silver just as soon
as the
COOPERATION OF THE NATIONS
can be secured and value fixed that will
give circulation equally to gold and silver.
The business of the world divides the use
of both metals, but do not see any pros
pect Of gain, but much of loss, by giving
the present system, in which full use is
made of gold and large use of silver, for
one in which silver alone is circulated.
Such an event would be at once fatal to
the further progress of the silver move
ment.
BI-METALIsM is THE DESIRED END,
and the friends of silver will be careful
not to overrun the goal and bring on
silver monometalism with it's necessary
attendants, the loss OF our gold to Europe
and the relief of the pressure there for
large currency. have endeavored by the
use of official and unofficial agencies to
keep close observation of the state of
public sentiment in Europe on this ques-