, 1891-06-20
A SURE WINNER.
Universal Silver the Sequence
of American Agitation.
Movement Taking Shape in
Spain, Portugal. France.
English Sentiment is Sharply
VeeriDg Round.
A New French Pool For the
Purchase of Silver.

New YoRK, June I9.-The executive
committee of the National Silver Assocla-
ton met today. 1t was stated that none
of the proceedinIs will yet be made pub
lie. An evening paper says: The rapid
advances in the price of silver bullion yes
terday set Wall street thinking. On the
9th ct this month the operations of a big
French pool in silver were reported. To-
day it was learned that while there were
indications that the first pool was liquidat-
ing to some extent, another pool, also
European, began work and was ready to
take Eold where the first pool had left off.
The plan OF campaign seems 10 be based
on the same lines as that of the first pool.
AT the present time the governments
annual purchases of silver to fill the re-
quirements OF tie silver act OF 1890, use
u $4,000, 900 ounces of silver. This
country's production OF silver for 1890 was
62, 93O,s3l ounces. This leaves s 1000, 900
ounces Tor the total requirements OF the
arts and to ell the export demand. Up
to the passage OF the July bill this coun-
try always exported annually from
5000 600 TO 10000, 900 ounces. The
Mercantile SAFE Deposit Company of
New York reports on hand the LIST Of
June, 1875, $50. 779 ounces of silver.
As was told on July 6, one concern Is
thought to own at least $500, 600 ounces
of thus amount. Outside OF this supply
there is in this country probably 2.00O.-
900 ounces of silver bullion at various
points. The only large supply of silver is
said to be 10 Monterey, Mexico. whers
about 10000 0 ounces is held in the
shape OF lead ore, pending certain railroad
construction. Mexico produces annually
about 10000, 900 Ounces OF silver, of
which about %. 900, 900 ounces are coined.
The rest is shipped to China and Japan.
via San Francisco. The production of
white metal from sources other than those
named is incousiderable.
This morning rupee paper was active
and strong in London. THIS is owing to
the passage of the bill in the lower house
OF the Spanish cortes. giving the Bank of
Spain power to increase the notes issued
based on silver. A bill has been INTRO
duced into the Portuguese cortes f~avoring
the adoption OF bi -metalIism. These are
straws showing the tendency of the wind.
A letter from a leading French financier
recently received in this country says:
The passage of a free coinage bill by the
United States congress would put silver
to SO pence in London, or 81. 90
per ounce in New York. Up
to 1873 France fought single handed
for bi-metalism. She would certainly re-
sumo it If the United States should adopt
free coinage. England will not follow as
long as Goschen is in power. Gladstone
is also a gold-bug; but there is a growing
sentiment in favor of silver in ENGLAND.
and this must tell in the end. The United
States made a mistake in adopting the
limited silver act. They should nave
either passed an unlimited coinage act or
none at all.
II is said this second pool has been the
purchaser of silver on the grounds emu
merated above and those presented in the
article of juno 6, which were the basis of
operations of the former pool.
1t would seem that one or the other
of the great parties will adopt q free
coinage position. Al any rate the grow
ing power of the farmers will demand
such legislation, andEuropean SPECTATORS
are alert to make Use OF the effects of this
agitation. SILVER bullion touched 81 per
ounce TO-DAY Tor the first time since
Eah II