Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1893-06-29
-::-BRIEF WlRINGS-::-
COLORADO SHELTERS.
They Talk OF Silycr's Uncertainty
But Will Keep on Smelling.

DEW ER, June 29.--The Denver smell
ters feel very severely the drop in silver
There nre no means of knowing where it
will end, and for the present they are
in an embarrassing state of uncertainty
us to what their losses will be. The local
smelter5 have on hand an averageof about
100000 each of ore, enough to last for
several months without making any new
contracts, but the trouble is, there is now
absolutely no market for silver, and if
the smelters can not dispose of the pro-
duct of their works it will be an impossi-
bility to continue them. It is estimated
that the smelters here and throughout
the state have lost in the aggregate $780,
COO On ore bought last week, md which
has fallen so greatly in value in the past
ten days. Ex-Governor James B. Grant,
president of the Omaha IL Grant
Smelling company, says that his com
pany will make no more contracts for
ore until the silver market is more settled.
President NJ. l.. Smith, of tho Pueblo
Smelling works, also declares that his
company will make no more contracts at
present. Continuing, Mr.. Smith said:
"The smelters of Denver are not likely
to close down for couple of months on
account of the large amount of ore al
ready on hand, but no more contracts
will bo made and few that have been
may be recalled. They all have been
made in such a way that they may be
cancelled, because Of the uncertainty
heretofore existing in the silver situation;
possibly by the time the present stock of
ore is used up settlement of the difficult
ty will be reached so that work may be
continued"
Smelters at Pueblo, Leadville, Aspen
and other points, it is understood, will
follow the action of the Denver smelters.
In case they should close down, many
thousands of men will be thrown out of
employment, but there is an impression
prevalent that before this action becomes
necessary fayoroble turn will occur in
the silver market.
London.--Silver is still falling. 1t was
only 81 pence, 68 cents, yesterday, and in
dications are that the price will be still
lower. Rupee paper is slightly ad-
yancing.
A MEXICAN VIEW.
City Of Mexico.--The tremendous drop
in the price of silver, bringing exchange
on New York to 6s per cent, has created
much discussion among Mexican bankers
They generally regard the present sltua.
tien ms offering a good opportunity for
tho United States to force bimetalism
upon Europe. 1t is suggested by one mar
that the United States might issne gold
loan of $5oO,O0o,ooo in 4115 percent bonds
which, it is said, would be Immediately
taken up in Europe, whore all other gov.
ernment securities would Immediately
drop heavily, not being able to compete
with American bonds. Then gold would
float into the United States and in short
space of time bimetalism would have tc
be adopted by EuroDe and the enormous
quantity of silver held by the American
treasury would rise in value, the whole
transaction being Immediately profitable
to the United States.
THE BLAND IDEA.
st. Louis.-CouYrossma II. p. Bland
the great silver advocate, is here, and re
viewing the silver question as affected BY
the action of the Indian government
said: "Heroic measures will be required
on the part of this government for thu
reconciliation of silver. Most empha
tically, do not think it is knockou
for silver in this country. On the con
trary, think that if congress does no
adopt some measure looking to bi
metallic standard it will make the battle
of standards the coming issue in thi
country. This battle will disrupt thu
political parties and cause contest be
tween the commercial centers and the
agricultural districts of the country
Free coinage of silver is demanded b!
the laboring classes, and this is what fre,
silver men will now demand of congress
The demonitization of silver is q con
spiracy between the banking institution!
of England and the eastern portion o.
the United States, and the suspension O.
silver coinage in India is part of the con
spiracy to bulldoze tho congress of thu
United States into the adoption of tht