The Meeker herald., 1893-06-24

Il n
are payable In lawful money! and no.
specifically In gold There is no dIstrust
abroad of American securities or American
stadards of value.
''To this may be added the fact that any
| New York banker will verify, that a few
weeks since, when England had breathing
spell after its losses elsewhere, renewed
and healthy demand sprung lip for our SC
curltics, which wis checked apparently bJ
the Reading failure. 1t is somewhat surpris
ing that silver was not blamed for this ilasco.
The truth is that the creSt of the United
| States is of the highest character Tho in.
| yesting world knows that It's obligations ara
and always will be sacredly redeemed, and
| whatever may be our financial policy, our
| currency will never be debased or degraded.
| IAN international coinage agreement
would be of incalculablc benefit but without
| It the United States, with free coinage at tn,
| present ratio, would maintain the parity OF
| the metals Gold would not leave the coun-
| try, except as 1t would go In any event to pay
| our dcbts abroad, nor would 1t reach
| premium to be boarded. There is no stock OF
silver in the world 10 be dumped In this cb,n.
try, nos is the production greater than the
| need for it as coin. France with fcwer re.
sources and much smallcrpopulation,f fought
! the fight for the double standard successfully,
| and maintained the parity OF gold and silver
| for seventy years. The United States can
maintain the integrity OF the metals with
| equal success, and until the other civilized
nations of the world, tired OF the depression
| and suffering brought about by an insufficient
supply of gold appreciated far above its nor
| NAL value, will return to the double standard OF
| both gold and silver, the production OF which
| from decade to decade seems limited by ma
turc to the increasing needs OF growing
| world
| There must come before many years, the
| resumption OF bi-neiallism in Europe. Its
! advent would probably be hastened ,y action
by the United States in any ono OF three
| ways.
First BY the purchase OF gold by the
| United States. II the United States should
issue not fifty but three or five millions of
| bonds, and with the proceeds buy gold
| abroad the supply needed In Europe being
| already insufficient, the probable effect would
| be TO compel other nations TO re-enforce the
| yellow metal with the white at some parity.
| The people OF the United States, however,
| would never tolerate n loan for the purchase
| of gold, an addition to the interest-bcaring
| deot contracted for such purpose, and the
political party that attempted 1t would be re-
| pudatcd ut the polls.
Second. The unconditional repeal OF the
| Sherman act would perhaps force Europe 10
| come adequate measure for the protection oi
| its vast accumulated billions of silver now In
| existence AS coin. Such action would work
| incalculabc injury 10 the people OF the
| United states before relief could come. The
| immediate repeal OF all tariff duties OF every
sort would bring about not nearly so great a
| calamity
Third By the Inauguration Of the free
| and unlimited coinage Of silver by tho United
| States, and the coinage OF the bullion now In
the treasury, silver would at once return to tie
former value Of 81 90 per ounce; the amount
| offered for coinage would PROBABLE not cN-
| coed. If 1t cqallcd the number Of ounces now
! purchased, and with the resumption Of free
coinage by the United States and the re-es-
| tahishmcnt OF it, value France would soon
l "A
| Britain, in view of the India interest, would
| probably follow with a measure recognizing
silver to some extent though perhaps limit
| ed one.
| "a Western view Of silver would be ncom-
| plcte II reference were not made to the silly
| assertions 10y some Eastern writer's and speak
crs that the cost OF producing silver is some
| thing far below It's market value, and this is
| advanced as an argument against It's rcstora-
| ton rs n money metal. Almost since the
| world began men have spent their lives and
efforts in the search for the precious
metals. The prospector Is hardy, brave,
| hopeful, enduring pryations and rsklng
| life In his work. II he finds the rich pocket
| b., fortune is made. Fifty fail where one
| succeeds, but the search goes on. The hills
and mountains Of the mlucral-bcarlng belt
! are dotted all over with prospect holes md
| shafts which showed no pay mineral; there
| are vast workings abandoned because the
mineral was too low grade 10 work, and the
l
| deserted because the process was unit for the
| ores, or because the mines had ceased to
yield. When the pocket Is found the profit
| for a time Is often large, hut take every Gle
| mcnt Into consideration which goes into the
| cost of the search for silver and compare It
| with the yield, and there is no doubt that
| every ounce Of silver has cost more than its
value. few years ago one OF the placer
| mines In Colorado yielded 800 n day to the
man. That particular gold cost less than 81 an
| In Nau lac tylr
drcds of men working In other gulches who
| found nothing. Was the cost of producing
| gold dollar an ouncci man once In Aus
| tralla was riding across the country, when
| his horse stumbled over nugget worth s20,-
| 600 or thercabout DID that lind serve To de
terminc the cost of goldi Nineteen nicr-
| chants out of twenty are said to fall Would
| you measure the profits Of mercantile busi-
ness by those OF two or three of the great
| New York establishments
THE sum Of the labor and expenses In
Cured In the search for the precious metals is
greater than the value of the precious metal.
| produced, and this will be the fact n. long as
mother earth continues TO hide her secrets in
her bosom and as long rs the breast OF man
| Is filled with hope.
The intensity Of feeling existing In the
| West in favor Of the free coinage of silver can
| hardly be comprehcndrd In the East. II Is of
| infinitely greater moment to this great sec
tion than any other question of governmental
| pOlcN, anu NHllt II Is unsettled, party cries
| sound small and party ties have little
strength. II either OF the two great political
parties would declare in favor Of free coin
| age, that party would receive the ovcrwhelm-
| ing vote in many Of the new states. The
| sentiment of a majority Of the states Of the
union is in accord with the Far West. The
| South, which is vitally interested, is practi-
| cally unanimous In favor of free coinage.
| The bogie of the Force bill still dominated
that section during the last election, although
| its ghost is forever laid The absurd platform
| and still more absurd leadership Of the Pop
| ulst party kept thousands from voting its
| ticket. Party ties are still strong, and We
| love the traditions and cherish the record of
| the party to which we belong. II, however.
| neither party will afford the relief which the
people believe they need, and which they be-
| lievc Is consoncnt with the best interests OF
| our country, there will surely come n time
| when from oat OF the two existing parties a
| third shall come which shall unite the great
| South and West in common cause. Presidcn-
| tial patronage is powerful and the bribc of
Office Is allurng, but neither patronage nor
office nor party. tradition will forever choke
an intcligiblc and cifectual demand for the
| restoration of silver to its place as a money
| metal.
Wyoming Mines.
| During the mast week or Two consider, hlc