The Bessemer indicator., 1893-07-15

| S;s;ss5 ihss !ses eoiaasxjp iEdle had blsp
yer had falloo within . hours fully 80 oent<
| per ounce This startling action, fotced upon
| the Indian government without moments
warning, the step held in secret contsmpla-
tlon by the Brltish government for months,
When the coastsrasiion Il aIiIast c.es,c II $as
hoped would stampede the last phalanx of
bim-tailisn's defenders, must have had. As
| one OF tta chief aims, the Intimidation OF the
| SenAte, 10 bring Il In line With the subscrvtent
lower hotis1. b, r.-.a ,,l,,.
| Immediately the wires were burdened VIZ
app .sls to the president from banks and
clearing houses and commercial bodies domi,
mated by them, for An extra session and %
senators, to repeal the Sherman law, which,
II WAS claimed, was responsible for all the
disaster, .....-.
The cali ssf t:,adr The Tina for the ex-
ira session to commence Is early 10 carly In;
decd, that may 1t not have been the hope OF
the president that the panlc would not SUD.
side and the measure of repeal be l0reeu
through before reason resumed its sway
and truth and logic could dominate the con
/ gress-
The enemies Of blmctalllsm- they now
fairly outnumber all those who opposed free
coinage for silver alike with gold, as II was
before the demuuetisatlon OF silver In 1873
openly declare that they Will be coutcnt Win
nothing less than tile unconditional repeal OF
law, 1t Is TOR that they struggle; II was to
secure that, the panic was created aud free
coinage In India sus pei.ded
| That means striking from the laws the last
| remnant of legislation that secures free coin
age for silver. Ii fixes the United States
firmly in the ranks OF the single standard ma
tions. 1t is the consummntion of the con-
spiracy organized nj the close OF the Franco
Prussian war TO destroy as money Of ultimate
redemption one-half OF the coined money OF
half ,1eur lspR
The vast lhotn.ain OF credit upon which the
! worlds business is conducted Inviting more
| frequent panics and rendering them more
destructive and enduring.
| 1t is idle to hope that reducing the valuc of
| silver TO the lowest stage will force Great
Britain to seek international solution of the
dilemma The home OF the single standard
power Is In her islands. Its members have
fully anticipated the low degree to which sill
yer will descend. They have discounted IT..
dlstutbahcc ~ their Indian trade, and sterled
their Hearts against the crime It will be to
their Indian Subjects THE power that could
plot for II years, that could ftrcc It's yoke
upon Germany, the Latin union Austria aud
the United State,: that could gain to its aid
| the daily press Of the country; that could
control for 20 years the national conventions
OF the great American political parties =
granting in their platforms professions OF bt-
| mctallism, but always securing the presiden-
tial candidates unalierably opposed To 1t, that
the people for bimetallism 10 n feeling OF cn-
nifty or indifference, can never he induced To
relent, for 1t has counted the cost, and has
learned Its poser.
| The Sherman law is not the work of the sill
yer producing states. 1t was forced upon the
country against their will. Their constant
demand has been that Ut the agricultural
states OF the West mid South, nnd Of The
! working masses OF tho whole country. They
have not sought to impose upon the country
nj uci a
| for the restoration OF the coinage laws as
they were from the fret year of the federal
constitution until the furtive repcnl OF 1873.
| The eberitinh law WIS III: trick by Which that
restoration Was defeated. 1t was aHc.ptrl Ivy
hi-metallists as pledge that tho Old laws
should, ut some future time, be restored, and
they now demand, not that the Sherman law
shall be retained, but that the hostage shall
be redeemed by the re-enactment In its stead
| OF the coinage laws under which the country
grew and prospcrcd for more than three
quarters of n century.
The charge thai the b-metalllstS demand
that 30 cents shall be made dollar Is lie.
1t WAS the trick OF the singic-standard con
spiratnrs that lcssrmcd the value Of silver
Had gold boon drtnonetlzcd instead OF silver,
rciainids for Silver ita frcatcst n-e and
chiefest fiitctbn, and Ietrvln9 gold Of its
greatest aud ehlcfc.t function, gold would
not to-day be worth s. per ounce and slivcr's
value and purchasing power would be In
creased largely above It's former highest iig
urc What bi-mcta.ls's do ask, anil all they
| ask, Is that the law relating 10 coinage a- II
was for the sevcnty-flve years OF the country's
| greatest glory shall be restored without the
addition or rxpunging Of syllable. IL, with
that law rc-cnaclcd and u fair trial OF IT had.
| silver shall not, without the purchase of 3n
ounce OF metal by the government, rest.m,'
iis former relative value with gold, b!-tnetnl-
lists Niil checrfully submit to ;lny legislation
iha, experience will suggest as necessary to
| make every dollar of tie United Statcs cqua
In intrinsic value 10 every otlicf dollar bear
Ing Its stamp. They urge the old la| with
supreme confidence. born of the unnssailable
truths OF history. that 1t will Immediately
place every coined American dollar upon n
par ot value both ns coin and bullion, restore
the bonds of weakened love anl confidence
aud sc, in happy motion the wheels Of all the
cpuu,ry's magnificent Industries.
VIII you listcn To Gs while We speak In
words of sUi'cr carnestness Of the local effects
Of the unconditional repeal Of the silver law
will havc.
The silver mining statcs mud territories,
embracing 00). 900 square miles Of the CON
tinent, with 2,DuJ.0OO Americans inliablting
them, depend peculiarly upon silver mining
for their prosperity. That industry Is the
very heart from which nearly every other in
dn.try receives support. Agriculture Will
not thrive without artificial irrigation its
mines Of coal, Iron. stone and clay, whiic
magnificent arc worked With such dear labor
and are remote from other than local mar
kete that their movement would be feeble ana
their operation disastrous without the ss!nin-
lon- the mining industry affords. 1t supports
our foundrics, operates our machine shops,
supplies our railroads with frrights, st.mu
lates travel, keeps bright the fires OF tile
smci,er-. and sends customer. TO the shops oil
orr merchants. " has invoked in the valleys
aud ipoh the mountain tides magn.iiccn:
cities and thrifty tonnr and Villages. Great
manufactures of paper. cotiun leather. iron
steel and clays distribute their nn'7hcd pro-
lGcts and support ibon.anGs nI prd-pcrous
aud happy fnmiiics But becau-e agriculture
il 80 limited In aren--conincd 10 narro"
strips u ong our Few and scaniy elrcams-ollr
| labor 80 high, NJ: Its ban1iwork so remote
from Other tlisn the local markets, The cotl is
mined, The sch is burned, the rail- Is roilcl.
the grain IS gr0ril, The fruit is gathered in
| he main for The owners and worker. In silver
mines and smeltcra aud the proPririors and
/ wprsmcn o! the industries and cstlilD37 de-
/ pcudrn, upon them.
| The reIuc' on Of the price Of silver 10 about
!, 20 cents has ,h1. doan.1 per cent of the si.-
I yer 'i'ii'es Of tic country mud Tie smcltcrs
must sonil follow tbelr example, J.irrc are
in Colorado today lh'6lo illc miners who
know not where TO turn II wnfh "a NO. re-
sumed. There Will soon he added tot1l6 Idle
army Of labor O0J mcn from the smciters.
| The stone griarrie. arc nearly all shat doxD.
the railroad companies nr: laying OIL train
crews bs the fcurs. the founhrict arc nearly
all out OF or,!rr.. i.fc farmers and fruit grow
crs will be barely paid for tho cost Of saving
their crops. the merchant, arc colntccminh-
Ing thcif eastern orders, the travelling men
for eastern hou.cs seek almost In vain for
customer. This is no ts-ygcratlon. The
destruction OF the silver industry VIII dcvas-
tate the country as II swept by II GJclrne
reaching from the British pos,csfiuns to lie
| Mexican border Ene. This sorrna ftl picture
| Of Colorado ~.th its mining industry de
! strb,rd hi, rrrrcscnis the condition OF the
other .aialny state and territoric, with the
same calamity uaGr them.
| II the silver mines sliu,l remain closed, one
half of the American output Of lead must be
lost The greatest bulk Of the lead prodnc;
I. taken from the sivcr-bclring ores. 1t re-
quros the one metal supplemented by the
Other TO refirnerate the lead-siver miner. II