The state herald., 1893-07-07
THE CRISIS IN SILVER.


alton In Colorado.
Tho Denver Rep,sbliean prints the following
interviews:
o; u. Mofiatt;."Ths resolutions will GER
tainly have one effect, they will st least con-
vince the Congress Of the United States that
demonstration OF silver must DO had. The
action OF the mine-owDep Wa forced upon
them by the condition Of the silver market.
There 10 no profit or sense In producing
commodity At q cost Of eighty or ninety cents
that you cannot sell for more than sixty-two
cents, and tho sooner the industry Is sban.
doned under such conditions tho better. The
only remedy lies In . proper recognition Of
the true place Of silver In tho currency Of the
country by the financial and legislative
powers Of the country"
J. B. Grant:-"The smelters which arc
working silver ores will close down. 1t will
have on hShd. When they have been treated
very little will be done. should say that in
thirty or forty days there will be nothing 10
speak Of done The smelters that treat cop
per asd refractory ores will continue, but the
great bulk Of Colorado ores cannot be
treated"
Julius Thompson 1.-THE talk that silver
cannot 60 lower 10 all nonsense. II silver Is
not used ~ . coin there 10 As much on hand
at present, without another ounce being
mined, - will supply the needs Of the nne
arts for more than generation. II IL hard
to say to what price the metal would fall II
the Sherman act were repealed and NO equiv
alent In It's place. Tho fight for free coinage
should be waged more determlnedly than
ever. Congress can be brought to realize
that tree silver is the only solution"
D. r. c. Brown:--'I can no more tell you
what We are going to do than anny. There
Is one thing sure enough; we must do some.
thing in q legislative way or we will mine no
more sllver. II have shut down our mines
tight enough and will not even pump them"
Senator Newman 1.-The majority Of mines
In this state cannot be worked at profit with
silver At the present price. The copper
smelter at Durango will be kept going"
Eben SmIth:-"l hear that the Grant has
l,0OO, 600 ounces OF silver at Omaha and ESQ.,
600 ounces here, and why should they buy
more, without some end u the present crisis
In sighti ] know of two other smcltcrs that
have zoo, 600 ounces each, and you could
not give them another car for the freight
This question OF freight Is at oncc an alarm
Ing one. Yesterday Que man reported he had
fifteen cars on the way the way to Denver, no
money to pay the freight and no buyer when
the ore should arrive At the market"
A. Z. Reynolds 1.-THE crisis, while grave,
Il not altogether bad" he said. There Is
not such state OF affairs as l pictured In
come quarters, and these sensational tele-
grams do not do any good to anyone.
The miners will be able to tide over the pres
ent hard times, which cannot last always"
A. II. Meyer, Of the Arkansas Valley
Smelter:--"Thcre 10 no other recourse left
tho smcltcrs but to close down after we clean
up what ore We have on hand. There Is now
on hand with the smclters Of Denver and
Colorado about ., 000, 900 ounces OF silver In
ore. not more than enough 10 meet the re-
quirements OF tho government for Its next
Ii L.. al. .-nI al IL.
will clean up the ore they have On hand by
August l, when no more smelling will be
done until the market Improves"
Richard Pearcc OF the Boston aud Colorado
srnelter shall continue to buy from
our customers, and will continue to run the
smcltcr, though We shall devote ourselves
chiefly 10 gold aud copper. and hold our sil-
yer until we can get good price for It.
am not interested In any mlnes In the state
of Colorado, but am In one In Montana, aud
wired the gentleman In charge to-day, TO
close down for the present Mt least"
Otto Mears:-'Colorado Is well fitted to
Iron aud coal. and In her timber aud agricai.
turai districts, her wealth IA immeasurnblc
Shut OF our silver mines. and We Will show
tho world that Colorado Il still Que of the
richest spots on earth. Every miner who has
ever even half way looked Into the coal and
Iron fields Of the state knows full well thai
Colorado 10 rich In these deposits beyond any
ordinary conception. Ia other word,, forced
10 Il, We will do In the way 81 developing
this state within the next two years what
under other circumstances We would not
have done Ia ten. For this reason, II for no
other, am not completely sorry this situn-
tlon 10 upon Us. The blow has come and we
must face II, and instead Of setting up a
howl we must cast about for other resources
we have. We have them, and We owe It to
ourselves 10 develop them. Having for the
time al least lost our silver trade, s Il would
seem now. We must do rs California did.
branch out, and tho man who thinks we have
nothing but silver TO sell, Is blamcworthy for
his ignorance. Tho trouble was We had 20
much that It overtopped our other Indus.
tries"