Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1891-02-09

No government, especially this gov
eminent, has right to leglslatc on
any marketable product. Interference
with the market price by means of
legislation. either In local or national
houses, In provincial or metropolitan
halls, has been, Ia, and always will be
dangerous experiment. Somebody
suffers, and too often those OF us-thc
working classes who can least afford
TO suffer. Take the last legislation on
silver. Silver was the most specula.
tive article on the stock list; the
fluctuations reached ~ per cent
In the period OF three or four
months. In addition 10 one Of
the members OF the Stock Exchange.
who bought silver certificates ON n fall
ing market, and who had recourse 10
something stronger than water 10 pre-
vent his taking single journey ticket
downstairs, II has had the effect u not
allowing the miners Of Utah who are
leasing 10 sell their ore. at profit;
the smelters In the uncertain state OF
silver are perfectly independent Of
small mines.
II may be argued that II silver ia
worth In this country sl.20, why II will
W W oeii't tvuuNfitHs lnc lesti iink
OF a few years ago, the tin trust OF
England, the copper syndicate OF
France and the last silver legislation
In this country arr proofs averse to
such Statements. We were told that
1000, 600 ozs. Of silver held In London
were sold In this country at the adj
vanced price. Austria, II wns reported,
has 1000, 900 tiorins TO dispose. The
weight Of the fiorin or guldon Il 1908
grains. When any country tries TO
keep up the price OF q single article for
the whole world, Il h costly
experiment for the nation, rs II must
result In loss TO that country. The
chances are that the rest of the world
will lbs benefited. The policy that has
for lis 0blcct-no matter by whom
originatod--iho purchase OF speculative
stock, should not only bc discounten-
ancej, bu. should be ignomlnously
branded. Free coinage advocates may
say; "Buy up the present stock" why
In few months there would he an.
other stock.
The silver production OF 1850 was
valued commercially at SO, 75), 900, its
colning value s8l,6ii,i 1i. The total
output Of the world for that year was
sl6l $4,000 coinlng value. From 1870
10 $500 the excess of silver exporta over
silver imports nngej from 81, 92T $50 In
1850 TO s2i,OOO,OO0 Ia l513, the year
which II. ID. J. says silver was de.
monetizcd; anS yetin spite Of such ex.
ports. therc were In the treasury on
the lnt Of November, 1890, over sa52,.
500, 900 OF silver. What are we 10 no
with this amount OF silver. mud The
Increasing OUTPUT, not OF our mines
only, but Of mines everywhere
aI,,,, ,,a, ,,.. .o,na, ain ,,,,.
., ,sam. s,i"i .h ~ ~.
~, ,y 49, ,'i ~ apPis'. '.,'v 1870
''I.. ~, ona W. .N'',u
na ~ ,a,'.,i NJ pp. ~
u, w" 'e' ', ,...sv
~ MI sovu SUI, " u., wi, ,.
sI., 'neI "o ,ois,J " p"y so,' so,n
~. -, III, n.,hr.a . y,
$500 ~ ""' w ''''"''P'o' F"
eo.'''S'''
Let US take silver nom the narrow
nut from which u has been discussed
anu treat II on the broader principle.
We VIII suppose thht ~, ID. j. i-a
farmer, who has 1000 bushels OF wheat
to sell, the market price OF which Is 81
cents; he goes to the. Secretary Of the
Treasury aud says, 81 have lOl'O bush
els worth 81 cents, anu want YOU to
issue dollar certificate against every
hushei Of that wheat" The manager
OF the shoe factory may with equal
grace say, Here arc 900 slippefs,
can't sell them, tue market price N 20
cents Civ. me 900 one dollar ccrtin.
Gates" The ; 'tinfy says, ~ can't
do that, ns would have TO build ware
houses" 80,
Cant you build, Mr.. Secretary,
warehouses to put manufactured goods,