The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-07-04
Spelling q Good Cause.

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Colorado papers are much disturbed, as
well they may be, about dispatch sent
from Denver to New York last week over
the probable results OF the fall in silver.
They are roasting the sender, Mr.. E. r.
HOLDEN without mercy. This was his
telegram in answer to question from
firm in Gotham:
'Inslde OF sixty days $50, 900 men will
be out of employment. Five hundred
thousand people will be entering the
verge of starvation. We will repudiate
east, as we have no money to even pay the
interest. 1t will bring about new De-
claration of Independence and the estab-
lishment OF a Western EMPIRE
The cause of silver will gain nothing by
such exaggerated and Incorporate asser-
tions as that. They are as bad as the non
sensical theories which other radical free
silyerites PROFOUND and string out by the
yard. They only serve to disgust the
thoughtful while they do no good in any
direction.
Colorado has not more than third of
the number of laboring men figured by
Mr.. HOLDEN as thrown out of employ
is the population OF the state as large as
the number he says will be brought to
the verge of starvation. If all the mines
in Colorado were to shut down, which
they will not, probably no more than
30, 600 men would be rendered idle, and
in state with so many resources they
would not all be long without employ
ment, nor would even as many as that,
let alone half million of people, be rem
dered utterly destitute.
The idea that if the silver industry were
destroyed, Colorado would repudiate it's
obligations is simply infamous. And the
other threat about western empire is
absolutely absurd. Such dispatch
might do Colorado great damage in its
business relations with the east if it were
not SO ludicrous in its exaggerations
But eastern business and financial houses
have too much confidence in western
securities to be influenced by such non
sense.
The mining interests of Colorado as
of Utah and other parts of the west are of
very great Importance. But they are by
no means all there is OF their productive
industries. Colorado claims an annual
mineral output of $4,000, 900. But at the
same time her agricultural products are
valued at $50. 600, GOO and her manufac-
lures at SIC, 600, 900. These may be some
what affected by the closing down of
some of the mines, but the effects will be
comparatively small. The grain will
grow just the same and the factories need
not stop because the mines are not all in
operation.
| We do not mean to say that the cessa-
ton of silver mining would not be dis
astrous IN great degree to other interests
in Colorado and in Utah. But we do say
that it is not the sole dependence in either
place and that utter ruin and starva-
ton will not be the consequence of the
collapse of silver which was feared a few
days ago.
The change that has taken place in the
market has frightened the prospects of
silver and helped to arrest the panic
which was coming upon the people of the
west. Such alarms as that raised in the
Denver dispatch to New York do no good
to anybody, but on the contrary damage
the cause of silver, by arousing suspicion
in the eastern mind as to the tTustworthi-
ness of other statements and the sound
ness of the arguments which are really
| founded on truth. No cause is benefited
by resort to wholesale exaggeration or
the fanciful theories of its hairbrained
propagandists.