The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1893-08-05
BUSINESS MEMS ADDRESS.
A strong Plea 20 Bankers, Traders
and Ma nufacturers by the Business
Men OT salt Lake City

presentation of the cause of silver:
SALT LAKE CITY, Utah, July %, 1898.
To the Merchants, Manufacturers and
Capitalists East and West : Gentlemen
Through the Business Mems Association of
Salt Lake City the merchants of Utah beg
permission to call your attention to some
serious facts important to your interests
as well as theirs.
We live in a region that is blessed with
delightful climate. which holds within its
mountain arms resources prolific, diversi
fed and inexhaustible beyond description.
and during the past few years the develop
ments we have made have excited the won
der and amazement of all visitors.
Our cities contain all that is modern; our
manufactures give employment to thou
sands of people in the development of home
industries; our railroads have been made
great by the patronage given them in the
interchange of local and foreign products;
the output of our coal mines, our gold,
| silver and lead mines. of our quarries, and
the yield of our farms and ranges have
given prosperous employment to thousands
of people; to supply whom we, as mer-
chants, buy from you and each year with
steady increasing demand.
We point exultingly to the manner in
which our banks and other institutions
have weathered the greatest financial
storm that this country has ever known.
These results could only be possible
among proud, high-minded and sensi-
lively honorable people, and what we have
done is an evidence of the manifest desire
on our part to meet every demand and OBJ
legation in the full sense of business integ-
| rity, and with exact promptness.
But crisis is upon us. We stand imme-
diately in the shadow of danger which is
aiming fatal blow at the very basis of our
| development and prosperity, and threatens
to sweep out of existence the industry on
| which all other industries depend in this
region.
1t has been through silver mining that
this region has been developed to its pres
ent greatness, and our coal mines, manu-
factories, farms, ranges and commerce gen.
orally lean upon silver mining as their re-
spective source of profit
We believe that the action of Eastern
fnanciers, in their attempt to establish
single monetary basis and to destroy silver
as money, has been most injudicious to the
country at large. 1t has paralyzed bust
ness in our region, and threatens to utterly
destroy property values and the usual in
dustries on which men depend for a liveli-
hood here.
AS it is, it has resulted in locking up all
money of this region. All mines have been
shut down. Already thousands of people
have been thrown out of employment.
OUR MONEY SUPPLY
has been damned at its very sources Col
lections are most difficult to make. Facto-
ries have had to shut down and merchants
to countermand their orders
Last year the income from wool in this
Territory was 81, SOC, 600. This year it is only
so per cent of that sum.
The coal output has decreased 68 per cent
and railroad tonnage in and out of this Ter
ritory, 60 per cent; and all this has come
about from the fall in silver which came
through no latural cause, but solely through
legislation and through fear of more of that
same sinister legislation.
Our products, our property and resources
according to the standard of values for
years past, are amply sufficient to continue
our prosperity; but the repeal of the Sher-
man act with no legislation supplemented
which would give standing to silver as mon
ey, would be to us as the destruction of
New York harbor by an earthquake would
be to that city.
So limited is our money supply that 1t Is
totally insufficient for ordinary business
transactions. At this time we have thous-
ands of cattle in the Territory and hundreds
of thousands of sheep which cannot be
marketed because there is no money to cit
her preserve or move crops.
We do not believe we are selfish in our
appeal to you. Wedo not believe you can
afford to give up prosperous trade in the
West We do not believe you can afford to
be passive lookers-on when a direct attempt
is about to be made to destroy what has al
ways been half the metallic money of the
world; for your own intelligence will teach
you that with that money destroyed, fol-
lowing a natural law. the prices of the world
will decline per cent.
Moreover, the condition of the business of
the country is clear proof that notwith-
standing so much paper money has been
issued, SO many promises to pay have been
put out and called money, is congested and
the land is filled with such unrest and ap-
prehension as was never before dreamed Of
1t is then with all sober earnestness, in
the face of the existing situation, that we