The silver state. [volume] (Unionville, Nev.) 1870-1903, 1893-07-20
ESMERALDA SILVER LEAGUE.
Strong Set of Resolutions Adopted by
the Organization.

The following resolutions were
adopted at a meeting of the Southern
Esmeralda silver club held in Candle
laria, July 18th, 1898, and Mr.. James
A. Yerington was selected as delegate
to the convention OF the American
Bimetallic league to be held in
Chicago and Washington:
WHEREAS, The president of the
United States has convened congress
to meet in an extra session, with
view to the enactment of laws for the
alienation of the distress caused by
the general depression in trade, owing
to the stringent condition of finances
in this and other countries; and
WHEREAS, 1t is alleged that the
repeal of the act of 1890, known as
the Sherman silver purchase act, is
relied upon to furnish the relief
citizens of the United States. and of
the state of Nevada, deliberately and
dispassionately, to consider this
proposition to repeal, in the light of
our past and present experience,
which alone is capable of furnishing
criterian by which to forecast the
future.
The prosperity of the people of the
United States was rudely interrupted
in the year of 1873, in consequence of
the passage of the act by which silver
was demonetized in this country
That act surrepitiously passed, robbed
portion of the people of the United
States OF share of their earnings in
the pursuit of mining for silver. At
the same time, through the contraction
caused by the demonetization of half
the money of ultimate redemption,
depressed business and trade in
other parts OF the country. The evils
engendered by this act spread and
contaminated most of the European
countries eliminating in the adoption
of the single gold standard to which
may justly be attributed the deplor
able condition at present felt
throughout the civilized world.
When the cause of the trouble
began to be understood our repre-
sentatives in the senate and congress
of the United States undertook the
task of righting the matter, but
strange to say they met with heavy
opposition from members represent
ing Eastern capitalists for which
reason our representatives only sue
coded in effecting compromises, the
last OF which was enacted in 1890,
which act is at present the object of
contention. This law authorizes the
secretary of the treasury of the
! United States to purchase four and
| one half millions of ounces of fine
silver per month at market prices, and
also provides for the payment for the
bullion so bought, and also for the
coming of part thereof in such
manner that. were these provisions
complied with, silver bullion would
have reached par with gold upon the
ratio of Is toll. But unfriendlv adj
ministrations have hitherto frustrated
the intents of this law, and the
present one alleges this act is respon-
sible for the financial trouble in the
whole world, and therefore demands
its repeal.
How much connection there exists
between those of the Herschell COM
mittee in India, and those yet
clamoring for the repeal of the so
called Sherman act cannot well be
ascertained, but the result OF the
closing OF the minis in India to the
coinage of silver for private accounts,
and the result contemplated by the
advocates of the repeal of the Sher-
man act, proves the two to have been
planned by the same heads.
The result of the closing of the
India minis was a crop of 20 cents
per ounce in the price of silver
bullion in As hours; and the closing
down of large number of mines.
mills and smelters in the United
States, throwing thousands of work
ing men out of employment. The
havoc thus began by the act of the
government of India would be COM
pleted were the Sherman act to be
repealed.
We find that the Sherman act as
handled by an unfriendly admins
tration is not at all satisfactory to the
friends OF silver, but it was accepted
in good faith as a compromise meas
ure in lieu of free coinage act as a
neucles around which free coinage
sentiment could gather with hope
and wait for it's realization.
But the repeal of the Sherman act
would destroy all hope; would cut
down the existing values of property
in mines, machinery and lands;