The Weiser signal. [volume] (Weiser, Idaho) 1890-1904, 1893-04-06
THE WEISER SIGNAL.
THURSDAY. APRIL 8, 1898.


A letter from Mineral to a gentle
man in Weiser states that the mines
will probably start up soon, but that
is exactly following the line of the
ideas we have held regarding the effect
of the present state of silver on the
mining industry. We have always
believed if silver went even lower
than it is today, though it has
fearfully depressing effect on them,
the mines would in the end re-
sumo operations and the owners make
a profit large enough that the loss in
silver could not be said to fall directly
upon them. We have presumed, and
it seems correctly, that as silver fell
the mine owners would cut wages in
proportion, shifting the loss to the
shoulders of the laborers. A mine
running under an expense Of 500
per day and producing 100 ounces of
silver worth at one time 1929, would
now, by cutting wages, run at an ex-
pense of $50 per day and produce the
same 100 ounces now worth 1913; thus
the mine owners profit would be only
moderately decreased-from $29 it
would fall to s23 per day. We do
not say this is the exact ratio of de-
crease in wages, expenses of running
or loss to mine owners, but it will
serve to illustrate the principle of the
effect Of low silver on the mine itself.
Now as to the man who labors in the
mine; he can afford to accept the cut
in wages and go on working, and
why? Because we see that as the
price of silver goes down, the price
Of wheat goes down with it; and if
wheat, the staple commodity of the
world, goes down, other commodities
of consumption must be effected by
deprecated silver. When silver was
high wheat was worth .29 per
bushel; but as the product Of the
above mine falls in value, wheat falls
with it until it is worth but 83 cents,
or less, per bushel. Hence the la
borer in the mine who once received
SO. so day can now afford to work
for 81. so or $275 day because
that amount of silver has just as great
a purchasing power Us 49, so formerly
had. He can buy just as much to eat
with his days wages as he could when
they were much higher. Thus it is
seen that as the mine owner shifts the
burden Of deprecated silver on the
shoulders of the laborer, so the laborer
in turn shifts it onto the farmer. But
here the chain of shifting stops. The
farmer can shift it on no one and on
his shoulders the burden must rest.
He must labor just as hard to raise
his wheat and corn. He can buy his
clothing, wagons and implements no
cheaper, except that reduction which
results from competition and in
creased manufacturing facilities.
Where he once sold certain amount
of wheat for 81. 30 he must now take
SO cents, fatty losing AS cents. Thus,
If the SIGNALS line of reasoning is
correct, and it would take whole lot
to convince us that it isn't, it is plain
ly seen that the eastern howl that the
silver question is scheme in favor
Of handful of silver miners is an
insane one. Though it does materi-
ally affect the mining industry, at
bottom it is nothing more or less than
paralitic stroke to the agricultural
industry of nation. But the farmers
OF the east will not see this; they al
low themselves to be deluded by the
cry against the silver miner. When
they can be brought to see this point
and stand with the west, silver will
60 back to its old place.
Our Mineral correspondent sends