Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1892-10-25


The isDusTNY pErHTssrp.
Tho mining industry In Utah Is exceed
ingly depressed because 81 the depreciation
" silver Very macy mlhes have closed
down. lood many moro aru running at
very Little profit, nearly oil the proceeds
being exhausted Ia expense. only such
mines as aro thoroughly opened aud fully
equipped arc roaping anything like u falr
profit Inasmuch ~ tho purchasing pOWor
of silver ~ not az all reduced BY It, depre-
clatlon-that Il. as silver 10 tho rough bar
purchases as much Of auyihlug which men
produce by their labor ~ Tho same amount
OF silver did when stamped BY the Govern
mont nnd when II commanded u premium
over gold, the depression oxtords beyond
silver mining aud affects In a measure all
branches Of business Many mines that are
now being worked are only made profitable
at all by tho fact that tho orc contains
lead and silver In combination. aud the
reasonable price for load make, up IN
measure for the unprontably low prices Of
silver.
Tho foar that with tho meeting Of Com
gross again there may DO "A reciprocity
treaty concluded with Mexico which will
opou 10 that country tho markets " tho
United States for all it, minerals free ~
duty, prevents tho usual prospecting for
mines which Is generally carried on through
tho summer In Utah, and ills those who
have lead-silyor mlnaa with approximations
for tho future. because IL Il plain that tho
mon " Utah, who have generous wages and
who educate their children, cannot directly
compete wish tho labOruts Ia Mexico who
work for from rs TO % cents por day, Tho
transportation from Utah East costs as
much ns transportation from tho Northern
stntos Of Mexico does, Hence, with the tar.
~ thrown on FROM lead ana copper aud
other metals, 70 would be impossible Tor tho
minors u tho West To supply any load pro-
duet except such ua could not bO obtained
from Mexico. our people look With much
anxiety TO tho result Of tho International
silver Conference, and hops FROM 10 ~ OBJ
tain such recognition for oliver 49, VIII mike
II again "A full moHsuru ~ values, aud they
see no Immediate prospect ~ an Improves
nuut IN tho Industries ut our nation, unless
some fair adjustment may bp adopted by
that conference which the Nations Ia turn
will be- willing To ratHy.
should tho conference fail, then tho prob
lon " ~ confront the silver miner. Uf what
IL nest best to do, aud | think tho dl-po-
siti1n will bo 10 call u second conference 4
the Republics NJ this continent o. SEQ u
such au arrangement for interchangeable
coinage cannot DO made as shall secure sta
bility 20 silver and give To- tho United
States prestige which would bring to us
tho bulk n all the exchange TRADE OF tho
continent,
silver men thlnk that tho mon In tho az
rlcultural and manufacturing States ought
% bo ns much or more Interested In tie
restoration of silver than IRE the miners Of
tue West, ~ what thoy produce oNcccdg
In value that which the minors produce.
and they look upon tho cry ~
hard times a. duo solely ~ tho Injustice
which was put upon silver by its
characterization. Indeed, thuy point 20 tho
fuct that silver has lost no fraction uf H.
purchasing power; hence thDy claim that
ecrn and cotton aud wheat aud all tho
other products which the farm and fuctory
produce are at tho same apparent discount
that silver II, OF, rather, lust ut this time,
when measured by any other product that
comes ~ labor, sold stands At n premium ~
40 per cent. aud thoy hold that no Nation
can do business with standard inflated
that way without business speedily coming
to au utter collapse SO their hopes are
nov conferred In the international C0nfor-
enre. for they nurse II strong bulicf that,
when tho representatives. ~ tho Nations
meet together, and the truth shall bn told
nhout thu condition OF the people nll ovur
civilization, Il VIII bo tho Irresistible cOn-
ciuslun ~ that conference that thorO Is not
gold enough In tho world 10 servo ~ u basis
for tho business ~ tho world, and that,
therefore, silver must be- recognized not ~ a
metu convenience In businuss--u somothln :
20 be- redeemed In god-but ~ u metal that
contains all tho properties essential 20
mouey, and hence must DO recognized by
the nations Us monoy as good As gold.