The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-11-19
MINING CONGRESS-
Dedication of the Colorado Stock
Exchange.
STEWART ON SHERMAN
Street Parade Of Mining Machinery-Presf.
dent Taylor and Others Advocate Free
silyer-The Long Dollar.

DENVER, Nov. 1.-THE dedication of the
Colorado Mining and Stock Exchange
building and the opening of the first ma
uonsl mining congress was celebrated here
Today. In the morning was a street parade
In which miners and all interested in min
ing look part. There were also floats bear
ing mining machinery in motion and a
great many tableaux Indicative of the
Important features of mining. at
the dedication speeches were made bv
President Taylor, of the mining exchange.
Mayor Rogers, of Denver, and others. All
the speakers advocated free and unlimited
coinage OF silver. In the after
noon the mining congress opened in
the Peoples theatre with ex-Governor
Tabor In the chair. Delegates from thirty
three states and territories reported and il
was understood that the Hon. Niles Sesrles.
formerly justice of California, would be
elected permanent chairman. The RECON-
mendauon mas not yet been reported on.
SENATOR STEWARDS SPEECH.
The greater part Of the session was occu-
pied by Senator Stewart, of Nevada. who
delivered long address upon the silver
question. He urged the congress TO adops
resolutions that would compel the national
House OF Represen tatives to pass laws re-
storing silver to a parity with gold. Rssolu-
lions favorlng the coinage of the American
product only, the senator said would not
obtain twenty votes in the assembly. The
gold ring has repudiated silver and has re-
dUced the issue of commercial paper to tha
narrow limits of gold. AS consequence.
the farmers are growing poorer and the
history OF bank failures showed that
| their circulation was not enough to
keep banks in reserve fund. Why should
| there De hard times with twenty years Of
peace! Why should times be worse than
at any other time in the csnturyl
The want Of money was the cause.
! Secretary Sherman, said the Senator. after
his visit to England and a Conference
with the gold bugs, returned home and
surreptlt1ously incorporated in the bill a
clause rejecting silver. II this had been
done to gold, it would not be worth % cents
| on the dollar. If it should not be used
for money, it would have no commercial
value. But silver was universally
circulated. 1t could not De DESTROYED but
it could be appreciated. There was no
surplus bullion in the world previous to
1890. The entiro product was used for
commercial purposes Great Britain was
constantly selling silver short. The inter
est payments OF that nation were SSO, OOO.-
600 annually, and were derived from the
sale of silver. When silver went ND last
year, England sold twice as much as
the requirements of the nation demanded.
and they would do this as long as silver
remained commodity. He protested
against the long dollar The country was
being robbed. The middleman was grow
ing rich and the producer poorer-because
they made the long dollar. Enough dollars
could not be found to pay debts. hence
stagnatlon and hard times. After other
addresses the convention adjourned until
to- morrow