Southwest-sentinel. [volume] (Silver City, N.M.) 1883-189?, 1892-08-23

/ nNAAiAaaNA HAAHNA N"AAHANH AAANNAAAAA -
grains each. The smelter mans account
now stands as follows:
100 ozs. silver exchanged at mint for
Paid JACK smith Tor 1000 ois. contained
In i0tons ore ................ 80 90
Net profit .....................s 900 %
Or the difference between the bullion
value which the miner receives for his
ore and tho coin which the government
would pay under the free coinage act to
the capitalist on the purchase OF only
LOCO ozs. silver from the miner. The ar
gument may be made that the passage Of
the silver bill will advance the price Of
silver sufficiently TO equalize the bullion
value and coin value OF silver; but i
hold that there is no ground for such an
argument, as over-productlon is at pres
ont given by the wise ones ms the cause
OF the low price Of silver, yet how many
silver mines are now shut down in the
West If the cause Of over-production
is true, il is equally true that advance IN
price WIN increase production to again
bear the price. Will some able advocate
Of free silver explain how the foregoing
propositions possible only by the unlim-
tied coinage of silver will benefit
the already much-robbed silver miner,
and oblige, SILVER MINER.
There really was no necessity
for the writer of the above letter
to have confessed his ignorance Of
the subject upon which he wrote.
There isn't a twelve year = old
school boy in the Territory who,
after having read the article, would
need to be told that the writer did
not know what he was writing
about. The poor fellow confesses
that he was very much perplexed,
and his mind seems to have been
very much muddled when he wrote
the letter. Whether it was in its
normal condition or whether it
was temporarily thrown ont Of bal
ance when the article was produced
we are unable to say {; but it Is
certain that "Silver Miners" in
formation on the silver question is
like beauty-only skin deep-and
that he is not very thick-skinned
at that.
According to his own figures
the bloated monopolist would get
1,1G5 silver dollars at the mint for
1000 ounces of silver if a free
coinage law were in force. Ac-
cording to our arithmetic he would
get 1892 silver dollars and have a
little bullion left toward another
of the dollars of our daddies.
"Silver Miner" should remember,
if he can, that there are 3714
.Igrains of silver in a dollar and not
4l2. Perhaps he has heard some
one say that a dollar weighs 4124
) grains I; but he should paste the
fact in his hat that American coins
r are 900 fine and that All grains of
the silver dollar are alloy. If he
had not overlooked this little item
! he might have made the met
I profit $527 instead of 500. He
! very conveniently makes the price
e of silver So cents an ounce in New
York and, at the same time, sup.
posing the free coinage law to be
in force, allows the bloated monop.
olist to get the coming value o.
the silver bullion at the mint
d which is S1.29 per ounce, or
$ difference Of Al cents an ounce il
d the price of silver in New Yorl
e and Philadelphia. "Silver Miner
e would have silver worth SIS cents
: in New York while in the City o
Brotherly Love, only SO miles dis
e tant, it would be worth $1.29.
We imagine that such a state o
affairs would not last more than
few weeks until the enterprisini
If citizens of Gotham would go int
the market and purchase a fey
hundred ounces of silver at s
cents an ounce and take a fas
train to Philadelphia and CONVEX
If it into coin Of the realm az an &C
at vance Of so per cent. By ridin
lg on fast trains and taking his mea.
IN en- route, the enterprising citize
= could make two trips to the Quake
to City a day and double his none
IN every day, which would not be +
O. bad a speculation |
We are surprised hat such su
passing ignorance should be a
IN lowed to find its way into the CO
er, umns Of the Albuquerque Dem
he crat, even though that paper
70 opposed to the free coinage Of 81
bo yer but, after all, the letter
.ng but a sample Of all the argumen
p" against free silver, although
Pile may run a little higher in ign
OH MHaaH