Southwest-sentinel. [volume] (Silver City, N.M.) 1883-189?, 1893-07-11

10 coll more wheat 70 pay the SJOSiOUO,-
600 than It would have taken 20 years
ago to have paid the entire s2,O00,OOO,-
600. Think Of thati A then think Of
the billions Of railroad indebtedness and
the billions Of city indebtedness OF this
country that will have to be paid and
then ask yourself il the %plutocrats are
not robbing the poor. A mar who own
ed a gold dollar 10 years g would not
have been able 10 buy a bushel Of wheat
with il. II he had buried his gold 50
that IL would not nave been bringing in
any interest il would have increased in
value 80 that the amount OF gold which
il would have required then to buy a
bushel Of wheat will buy nearly %
bushels now Twenty years ago the
cotton planter was receiving 1913 cents a
pound for cotton and he is receiving but
10 a pound for it now. The buried gold
dollar will buy nearly three times as
much cotton as il would twenty years
ago. Again il has grown TO three with
out any effort on the part Of the owner.
A measure Of value should be unvarying
and should be the same today and to-
morrow. The increasing Of the standard
Of value is the same thing as the mer-
chant who changes his scale TO rob his
customers.
England Is probably the greatest fnan-
cial nation OF the world but she has 30O,-
100000 of subjects down in India for
whom her looms and factories are busy.
India has no measure Of value except
the rupee made of silver. They know
no other standard than silver. The
American farmer has TO sell his wheat
in competition with that OF India. When
a Manchester merchant wants TO buy
wheat he buys 10000 ounces OF silver in
the London market. II silver we're on q
parity with gold this silver would cost
him S12,129 but today he can buy it for
1900, saving 8 {, 729. He sends the silver
to India, pays two per cent. to have 1t
coined into rupees for which he buys
wheat or cotton.
This problem Of bimetallism is admir-
ably illustrated by an English scientist
who said that il there are two wells in a
community filed with water, one from
one stream and one from another they
will go or come down approximately as
the people take water out Of the one or
the other. Suppose you want TO keep
the level the same II the two wells; put
in a tube and whether the supply be
taken from either, the level will remain
the same. If we keep gold and silver
separate and distinct gold may be worth
more than silver or silver worth more
than gold but supply the connection by
the tube of bimetallism and the iuctua-
tioEs will cease, but il must be absolute
bimetallism. Can America do this thing
3 alone? We claim to be one Of the great
est nations IN the world and if we cannot
[ do as well as Spain and Portugal there
[ is something wrong. No country except
l this ever lowered the value of the metal
, of which it produced the most.
= The governor spoke for an hour with
Il bAOdb coA hSbbhtoo anu Alp oik hhl0ub lOA
free coinage carried conviction with it.
} He was followed by Heckleman, of El
} Paso, who made an interesting address,
the main points of which are embodied
in the following statement which was
submitted by him and made a purt Of
r the records of the convention:
Q WHEREAS, The people of the United
D States, through their representatives IN
congress-, will shortly be called upon TO
decide the gravest and most important
financial question that was ever pre-
) scented IN the history OF our country;
I therefore. we, the miners, mining en-
gineers, mill men, smelter men. assayers
and metallurgists Of the southwest, in
. convention assembled, in Silver City
n. NJ, July 4, 1893, desire TO present for
D their information and consideration the
? following plain facts and irrefutable
arguments in behalf Of the cause of sill
: yer.
! First-The recent failure Of banks and
other commercial enterprises through
r out the country, the enormous export
q alton of gold to Europe, the consequent
: stringency IN the o market, have
i been directly attributed TO the evil ef-
I fects Of Sherman bill, which provides
I for the purchase by the government OF
100000 ounces OF silver bullion pei
, month, and the free silver advocates are
i being held responsible for the passage oil
the Sherman act. Both OF those sup
4 position are During the past
. five months the United States govern
ment purchased S96,OO0,OO0 worth Of pro
: ducts in foreign markets more than they
y I.,ll u,-r l,l,w - urhs,I nj .. l., uorr
D for in gold. In other words, the balance
, of trade during the last five months was
against the United States TO the extent
of ninety six millions of dollars, while
S during the fiscal year Immediately pre-.
/ ceding the balance of trade was in favor
of the United States TO the extent OF
S202,O00,OO0. These figures are official
and we're recently compiled and given
1 out by the authorities OF the treasury
a department. Hence the present strin-
g0ncy in the money market and the IN.
. precedented expectations OF gold, and the
Sherman law had absolutely nothing 10
J. do with it.
> Second-The free silver men neither
. originated nor advocated the Sherman
law, but were forced 10 accept il by the
opposition as a compromise. They ad.
7 vOcated the circulation and coinage OF
1 silver dollars at a ratio OF Is TO ], and not
n the storage OF bullion in the vaults.
Third-If the Sherman act is repealed at
u the extra session ia August and the free
o coinage OF silver is not substituted in ia
I place you will witness and experience the
most colossal disaster la the way Of fail
ures and suspension Of operations idus
tries of the world that has ever befaller
Q our people. Destroy the use Of silver az
4 a money metal and one million mer