The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1893-07-13

the production of silver. There is
coal, but it is hard to mine and work
ing it is profitable only when it can
be sold neal by in the silver industry.
Agriculture is very limited, and de-
ponds on local markets as do also the
various subsidiary manufactures and
products of these States. But there
are no local markets if there is no sill
yer mining for employment, wages
and consumption stop when silver
mining stops. The internal business
of these Statesworks in a kind of
circle. Stop one part and all stops.
The external trade is a circle again;
silver goes out for all that comes in;
stop silver and the imports stop too
The situation is summed up in this
paragraph
The reduction of the price of silver to about
seventy cents has shut down 80 per cent. OF the
silver mines of the country, aud the shelters
must soon follow their example. There are IN
Colorado today $4,000 idle miuers who know not
where to turn if work is not resumed. There
will soon be added to this Idle army OF iAoor
1000 men from the shelters. The stone
quarries are nearly all shut down, me
railway companies are laying OIL train
crews by the score, and the foundries are nearly
all out Of orders. the farmers and fruit growers
will be barely paid for the cost OF saving tneir
crops, the merchants are concentrating tneT
orders, the travelling men for Eastern houses
seek almost in vain for customers. TINS IS no
exaggeration. The destruction of the silver IN
dustry will devastate the country as II swept by
a cyclone reaching from the British possessions
m fha Mayiaan border line. IQlS SOrrOWIul
picture of Colorado with its mining industry
destroyed but represents the condition OF the
other mining States and territories Win tne
same calamity upon them.
This is an appalling picture. and
the worst of it is the colors are not al
together false. The situation of these
regions is not unlike that of Ireland,
altogether. That country depends
almost entirely upon agriculture for
subsistence, and a failure of her crops
means general paralysis of industry
and approximate famine. If these
States have to endure the annihila-
ton for q time of their main source OF
wealth, the distress and loss that must
fall upon them are beyond calcula-
tion.
Oddly enough, one of the most en-
couraging signs we see is in a matter
which the Denver people regard as an
additional calamity. They say
"If the silver mines shall remain closed one
half of the American output OF lead must De
lost. The greatest bulk Of the lead product is
taken from sllver-bearing ores. 1t requires the
one metal supplemented by the other to remun-
crate the lead silver mines. Not less than 90 per
cent. of the gold product of sthe country de-
ponds upon the maintenance or the silver IN
dustry. 1 The placer, or creek washlngs, the ear
Hest and most prolific source of our gold supply,
are practically exhausted.
Now here are conclusive reasons
why some part of the silver mining
industry will not be abandoned; here
are elements which will continue to
make the mines profitable even at a
greatly reduced price for silver. 1t is
even conceivable that if the once
precious metal became a very drug
upon the market, the mines would
yet be worked for the sake ofthe vul-
gar lead. We can do without silver;
but lead we must have.
At any rate, it would be a good
thing if both sides in this great con-
troversy started in to recover their
tempers. The preposterous attacks
ON the President and every one else
do not help matters on the one hand;
neither do the blind and inconsiderate
bowls about the silver barons on the
other. We must have the Sherman
law repealed, to begin with. We
must get back to money which is
worth its face value the world over.
This is as essential to the silver States
as to the East. But having done this,
then it will be not only well but nee
| essary for us to seek whether there
are not some means by which we IA
avert panic and collapse from a vast
and important section of the country.