The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-10-12
TO DECEIVE SILVER MEN.
National Republican Executive Com
mittee Forms a Big Pool to
Buy Silver.
Hoping by this Crafty Means to
Fool the Free Coinage
Men.
Price to 10 Forced Up by n Corner En-
gineered for the Advantage of
Harrison.

New YORK, Oct. ia special to the Den
yer News says: Word was received by a
gentleman in this city a week ago that the
price of silver would advance. 1t was sug-
eested by q Wall street broker to the re-
publican national executive committee that
1t would require but a very small sum of
money to control all the silver bullion on
the New York market, and that if the
money could be advanced by the national
committee they could obtain control OF all
the silver and thereby make the govern
ment pay a higher price for every ounce
bought between now and election day. and
that the secretary of the treasury would
have no objection to paying n higher price
from time to time for the amount he ia BY
law required to purchase between now and
election, knowing that in doing SO he was
assisting the republican national commit
tee to hoodwink the people of the west
into the belief that che price was advano-
ing l%egitimately, and thereby Harrison
would secure the votes Of some of the silver
states.
1t 10 confidently asserted ty the republi-
can national committee that If silver should
advance. the miners of the silver states
would vote for Harrison. The action of
members of this committee has been
watched in New York for the past week,
the result being that the number of silver
bullion certificates purchased proves the
correctness of the information of u week
ago.
That this great conspiracy may be un-
derstood fully by every reader of the
News, l will detail the method of purchase
and sale of silver bullion. The refined
silver bullion is kept in vaults in the banks
of New York. Each bank issues a c%ertif-
cate or receipt showing that it has in its
possession 80 many hundred thousand
ounces of fine silver. These certificates or
receipts are then bought and sold by per-
sons dealing in silver. exactly the same as
warehouse receipts are bought and sold on
wheat or corn in storehouses or elevators,
thereby enabling the public to buy or sell
at any time, and only put up five per cent
of the market value OF the silver, wheat or
corn, the bank holding the silver as secur-
ity to secure the other 90 per cent Of the
purchase price.
BY this means il will be seen that to get
control of che ), 900. 900 ounces now held by
banks. it would require less than $150.000.
When once the republican committee or its
brokers had control of all these certificates
or receipts. they will refuse to sell tho
government only at an advanced price, and
by selling only a little at a time, advance
the price gradually, as it would not do to
jump NV too suddenly, otherwise the people
of the west would Immediately discover the
reason for the sudden change, and discovery
would be disastrous to the object in view.
Another manner with which to accomplish
this result is for the agents or brokers Of
the republican committee to buy only a
limited amount of these certificates or re-
ceipts at a time and hold what they buy.
thereby making silver a little scarcer from
day to day, and in so doing advance the
price in proportion to the number of ounces
they look up. have this information dir
ect from the heart of this conspiracy and
the price of silver for the past few days tells
the story.