Mohave County miner., 1893-01-07

'"~"s Wcre inixnts, At least a. re-
CARDS matters Of finance, Can you iii,
yourself by the wsi tband?"
No: but IL 10 an attempt which the
English also made. when they altered
the isws which have forced themselves
by ages Of experience ON the worlds &C
eepsance, when they decreed by iax the
value OF land in Ireland, and ignored the
prover6 OF cayest cmptori Neither ma.
lions or mon are always equal to them.
selves In wisdom. II 10 human as we'll
~ American TO err. Has American leg.
islasion IN regard TO silver been q mis-
tskeT Certainly it has not proven a
success 90 far; but efforts which fai! tenn
porsrily, or even permanently, are not
necessarily mistakes. So far ss sustain.
Ing the price Of silver in the outside
market In concerned IL 10 u failure. Sill.
yer IL selling in London to-day, June q,
1892, At 40 d. per ounce. Ths, 10 nearly
as low as II has ever been. But IL the
example VI the United States shall fin.
| ally induce other nations to re-est sblish
silver by restoring fixed ratio between
silver and gold, then American legisls.
ton will have proven = success. 1t il
probable that we have gone As far al
ready AZ II 10 safe for us to 20 alone. II
we throw our minis open TO the free
coinage Of silver, while the principal
commercial nations refuse 70 do 30, We
certainly must become one Of the silver
monometsllic nations. Practically, there
10 not gold coin in Mexico, except In
the windows OF the money brokers. An
American 800 silver bill 10 worth at this
moment el49 in Mexican money. gold
bill has exactly the same vsine. They
are received alike; nobody questions con.
cerning thsn. So far, then, American
legislation in regard to silver IL decided
success. But II We decree free coinage,
the United States will be swept a. clean
of gold ss Mexico is to day. and Ameri.
can silver bills will cease to command =
premium in Mexico or in other countries.
When, no; long ago, We passed the Law
TO coin four and half millions r.onth,
silver advanced rapidly and steadily from
"a cents to 81 20 pr ounce. A portion
Of the American press thought 1t was
then going to par, which is $l.29 26-lOJ.
The Mexicans did not think So They
are . people who rarely make mistakes
Of that character. On the contrary, NJ
that critical moment every great bank
and all the rich commercial houses
rushed Their silver into the Americas
market. Probably, had financial pan
ic ensued, no, . bank in Mexico could
have paid ten cents on the dollar, so
completely had they stripped themselves
in order to realize the advantage which.
they knew must be only temporary. No
doubt the same took place in all silv, r
monometsllic countries The movement
could be compared only to = stream Of
water seeking TO find its level. The level
had been disturbed in the United States,
and every stream, great and email, at
osce discharged into it. Nothing short
OF draining the sources could have stop.
ped it until the level vas restored. We
nov understand what happened, and
what must happen again AMI again un-
der similar conditions.
n al ,no ha , hI<.9
Not by any means. But they are suffici-
ent 10 food the United States, when the
food gates are liitea without due pre-
cautions. Should the United States de-
clare free coinage tomorrow, every ounce
OF silver that could be spared from the
SILVER OF every nation would be poured
upon her. Every nation which, like
| Austria and India, seeks to establish the
single gold standard would also hasten to
change its silver for gold. In u few
months We should find ourselves among
the silver monometallic nations, while
others obtained gold basis at our ex-
pense. We should have relaxed cor
respondingly the ties which bind Us to
the great commercial West, and find but
slender compensation in the increased
intimacy Of other associations. We
should have to buy for gold, and sell for
silver. The loss Of our gold would inev-
itably occasion contraction. Years would
ala ,se before the distorbed currents could
settle to . calm. In short, il would be
fatal!
Il is rumorei that the result OF the
coming International Conference will be
determined by Englsnd. Little conf
4 Il k,sal IL