Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-08-05


Iuxuries, Our money standard Is the
costiest. Its productions involves a
constant loss to the human race. Many,
ignorant Of the methods by which gold
and silver are produced, believe 1t Is
simply necessary TO 20 out and get gold
or silver at option by digging. The
story Of our race tells different tale.
The history Of the conquest Of Peru and
the subsection Of Mexico describe par.
TALLY the lengths to which mankind will
20 for precious metals. Trails Of blood
cover the west as a result Of the hght
for gold and silver The year 1919 is
not 80 far removed that there are not
still heavy hearts and broken homes for
the gold Of California, The frequent
uncovefing Of the skeletons Of men,
once full OF hope and courage, who
suffered death through privation or dis
ease. or fell by the hand OF the red man,
in the search for the metals that meant
money, reveal a condition that Is not
wholly In harmony with the uncnlight.
ened ideas OF many as to the way gold
and silver are produced Men have
given up everything for these metals Tot
the same reason that men have staked
their all at cards Where one man wins
In the mining lottery hundreds fail.
Where there IS one mine showing signs
OF activity and bctokcning prosperity
YOU will find hundreds Of Abandoned
claims in the alluring development OF
which countless thousands OF dollars
has been irrevocably lost.
n the price to be paid or money is TO
be governed By the cost OF production
as Indicated by the few properties that
pay. then gold should be cheaper than
silver. There Is one mine In the Black
Hills that produces dollars worth Of
gold for about thirty one cents. Who
Knows OF any mine that produces silver
so cheaplyp There is only one cheap
money, and that Is the paper money
issued by the government. It's intrinsic
value is but the fraction OF 9 cent,
though II represents thousand dollars.
Yet Il Is taken by those that would not
accept a silver dollar because some
eastern paper, diving into the reports Of
half dozen paying mines and Ignoring
the hundreds that, while contributing to
the aggregate production OF silver, do
so at a continual loss, declares the cost
Of silver averages about sixty cents an
ounce.
am reminded Of an account lately
published in the New York H0rid OF the
meeting OF the New York city chamber
OF commerce held for the purpose Of
urging the repeal OF the Sherman law,
and to send delegation to Washington
to fight silver. OF about $50 members
present only three had kind word to
say for silver. One OF these directed
the attention OF this astute body OF
inancien-to which all in this country
are supposed to defer or be guilty OF a
disrcspect not lar removed from BIAS
phemy--to the fact that In 1883 the
British government had appointed a
commission to enquire into the financial
conditions. Half this commission re-
ported charging the depression to the
decentralization Of silver The N. v
chamber Of commerce claimed that the
Sherman law was responsible for the
troubles here. w. 7. St. John, a banker
in New York, a gentleman who Tor eight
years has studied the subject-six years
Of that time, on his own declaration,
combating the western idea, aud then
becoming converted TO its righteousness
by the force Of reason, and in direct
opposition to his prejudices- gentle.
man challenged any Of those present
at the meeting TO take up the gauntlet
and discuss the subject with him. All
but three voted to fight against silver
when they knew so litlle about II that
they could make no answer TO the
challenge OF one OF their own number
that had devoted TO the subject years OF
research and patient study. They
would not even hear II discussed. But
we are told that the voice OF New York
is the voice OF reason, and that what Is
gooa enough Tor New York Is good
enough for the whole country. Its to
this intelligence that we are directed
when a bimetallist advances an argu'
ment. Truly little wonder eau be felt
at the extreme utterances Of western
men when they are pitted against the
logged prejudice and vindictive density
OF eastern business men and bankers on
this subject. We are not compelled to
recognize business men generally or
bankers as necessarily possessing occult
knowledge on the subject OF monetary
standards which the rest of the world
may not also acquire. one may be
skilled In the business OF endorsing
interest ON notes, clipping coupons, and
bookkeeping, allowing credits and
collecting accounts, and still know
absolutely nothing on the question OF
monetary standards As a rule these
so called dnanciers have as little knowl.
edge Of money measures MS other
people. One man charges our ills to
certain specific cause, and because no
other solution Is apparent, or because
self interests prompt Already assent, We
all rush around crying this Is the cause,
this is the cause, remove IT," This Us
not the voice Of wisdom. II is the cry
OF ignorance. For that reason / do not
grow uneasy or alarmed because an
aggregation OF men calling themselves
a chamber OF commerce resolve that the
Sherman law has caused such financial
unrest that they can charge and obtain
readily ten and twelve per cent interest
In the city OF New York. These are
facts In this issue, When these facts are
made plain TO the producer, the design
Of the creditor, who is generally any.
thing but a producer will become
apparent.
The New York Woyid land plead
guilty to a faithful persual OF its columns
IN the now almost lorlom hope that
will some day find therein an argument
on the silver question: has repeatedly
declared that legislation has been per,
sistently accorded silver miners against
the best interests OF the country so as To
maintain the price Of silver, and that
despite this legislation, silver has MS
persistenlly declined In value But IL
also stated a few days ago, and stated
editonally In answer to a correspondent
that silver was demonetizcd In 1874 be.
cause that metal was Carer than gold.
IN 1873 a silver dollar was worth IoI6.
The diciplcs OF gold declare, with a
vehement iteration worthy OF "A noblrr
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