The times. [volume] (Richmond, Va.) 1890-1903, 1893-07-06
THE SILVER SITUATION.
CONDITION OF AFFAIRS IN THE
STATE OF COLORIDO.
she Can Worry Along Very Well Even if
The Mines DO Close-Against the Uncon-
ditionaI Repeal Of the silver Law.

| PUEBLO, COL, July 5.-Correspon-
dents have spread broadcast the state
ment that the closing Of the silver mines
Will effect the practical bankruptcy Of
the State. AS a matter of fact. IL every
silver mine in Colorado was closed within
the next ten days. the depression would
be serious. but within sixty days ninety
| per cent. Of the men involved would be
| engaged in other lines. so that the result
would be simply to change their fields
Of industry. The annual agricultural
output OF Colorado exceeds by several
millions Of dollars the product of the
mines, and yet not one-tenth Of the
available agricultural lands is under cu-
tivation.
The latest statistics show total min
eral output for the State OF about s5O-
100000. including ali metals For the
same period the agricultural products
aggregated 10000 900; the manufacturing
output. 100000 600; the coal mines, 55,197.-
100 tons; the petroleum output, 100000
barrels; wool, 100000 pounds; the cattle
industry. t34,O0O.0O0. and minor items
swell the total 100000 to F5,0OO0O0
more.
AT Pueblo the wages paid for the year
by all the smelters was sGg6.000. or $4,000
monthly, the average number Of men
employed being SCI. on the other hand
the iron, steel and brass Industries en-
ployed over 1000 men, with an annual
payroll OF over 81 coo 000. and a product
Of something more than 100000 The
petroleum industry. I'm fits infancy. I'm
Pueblo employed go men. paying more
than $4,000 in 1892, and producing $i2OO.-
600 worth Of manufactured goods. Brick
and clay Industries gave 200 men en-
ployment, with payroll OF 100000,
and the annual product Of sl.35O.O)O.
These figures show far better than any
wild. unsubstantial statements how tri-
ning the actual effect Of closing the
silver mines would be.
Against the Repeal.
DENVER, COL. July 5-The Cham
Der Of Commerce, I'm conjunction with
other commercial exchanges. has sent
an address 10 every commercial organ-
Zaion in the South and West. setting
forth that the unconditional repeal OF
the present silver law, reducing this
country TO a gold basis, must result I'm
practically closing every silver mine and
smelter I'm this country crippling every
Industry. and running the wheat. cotton
end wool industries
To prevent this making Of silver a
mere comm odity the commercial orpani-
cations Of this city have resolved 10
invite the commercial bodies Of the
other cities throughout the silver, wheat.
wool and cotton districts Of the West and
South 10 appoint each one or more dele
gates 10 meet in st. Louis on the nth
day Of July 1893, al the Southern Hotel.
the same 20 be known as the meeting
Of the representatives OF the CONNER
cial interests Of the Southern transmits
sissippi States. for the purpose Of or
eanizing n tour through the wool and
cotton districts OF The West and South. !
and the grain-growing sections Of the
Mississippi Valley.
The Ind i'm Silver Question.
SIMLA, July 5.-Tn replying 10 n ques-
tion I'm the Legislative Council TODAY |
Sir David Miller-Barbour. financial mem |
Der OF the Nice-Regal Council. said that |
under the new order sovereigns would |
be accepted 10 an unlimited extent bv |
the Indian mint. Bank Of England notes |
would not be so accepted. The silver |
now en- route 10 India would be taken |
only 10 avert a commercial panic There |
was no hope that the civil servants /
would receive retrospective compensa- |
ton.
S'lv'r Situation In Snain.
MADRID, July 5-Tn the Cortes to-day.
In response 10 a question asked by Senior
Toca, who was one Of the Spanish dele
gates to the recent International None
tary Conference held in Brussels. Senior
Camaez Minister Of Finance. said that
Spain did not have need 20 adopt special
measures 10 meet the silver crisis. re
added that he believed the present de-
preston in silver would soon be remedied.
Silver Higher.
NEW YORK, July 5.-Sllver opened
strong and higher at Is at the New York
Stock Exchange.