The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1894-09-07

Silver went off full three-quarters
cent yesterday, the close being
AS cents. and in consequence the pro-
ducers Of the white metal were not IN
the highest of spirits. They would not
have been surprised at a drop OF one
or two points but six points took the
wind out of their sails and left them
foundering in great uncertainty. This
slump does not necessarily mean, how
ever. that the metal will long continue
in its downward course. Some of those
~ who are carefully watching the mar
&-et even predict an early and perma-
ent advance There are many indica-
4 ions which lend color to that view, one
Rf them being the great progress be-
made by bimetalliSm in England
800 all Europe. Baron Richthopen, of
= London. is now in Denver and gives
great announcement to the cause OF
silver by his sanguine assertions. Inc
baron is one of the prominent igures
in European financial circles and his
views are very worthy of attention. TO
the Rocky Mountain News the baron
said:
IAN England is suffering under the
silver depression the same as the rest
of the civilized world, but in London
the Bimetallic league is making
valiant campaign of education with
marked results. They are holding meet
angs two and three times a week in
London, which are attended by the
bankers and prominent men Of the city.
Lectures in bimetallism are delivered
~ university professors and others
~ TslYhave made the subject study,
and the number of those who are in
terested listeners is constantly increas-
ing
TAKING A FIRM HOLD.
IL, 6 u
ginning to take hold of those who have
hitherto remained in ignorance of it,
but whose interests have been vitality
affected through the blow given to sill
yer. In this way the educating process
is going on all the time. and in my opin-
don it is not difficult to forecast the ulti-
mate result.
THE reconciliation of silver de-
ponds upon London. The people Of the
manufacturing districts are bimetal-
lists to a man. They see how the pres
ent position of silver affects their in
tersSts Their business is practically
dc and they do not believe it will
W. until silver is restored to its
" place in the circulation of the
Ga T5rld. If London would say the word,
4jtfnetallism would be operative at once.
France and Germany are ready for il,
and with the United States and En-
gland in favor of silver bimetallism
l.
financers have been monometallists
through force of education. and they
have been utterly indifferent to the
silver question: but now their pockets
are affected by the universal depres-
sion and they are forced to look at the
attitude of the country toward silver
as one of the causes of this depression,
and are thus set to thinking. 1t is only
question of time when they will recog-
nize silver.
THE new government, when it comes
In, which may he this year or next, or
the year after, viii undoubtedly make
change. The present government it.
self is not by any means united in its
financial policy. The landed interests
represented more particularly in the
house of lords. have suffered so much
from the existing conditions that they
will favor bimetallism when the mat
ter comes up.
FORCED VALUATION.
I'm. India they have had to establish
an arbitrary value for the rupee. the
silver unit of currency in that country;
but they will not be able to maintain
1T. They have tried to fix the valua-
ton at ! shilling and pence to gov
eminent officials. in order that their
remittances to England may approx
mate face amounts, but a system of
this kind cannot last when the real
- lue of the rupee is but slightly above
shilling. So something will have to
Hone with the question very soon.
Germany is largely an agricultural
~ntry, and the people are ardent oi-
fnetalliSts. France, too, is the same.
and they would all hail with joy the
international declaration of the restora-
ton of silver to its true place in the
money of the world.
Before / left London / endeayored
TO interest a number of English capital
lists in American enterprises, but found
them somewhat averse to putting any
more money here at the present time.
They have received so little return the
pasI year for investments already made
tha9 they are rather wary of sending
what they regard as good money after
,5EA. However, it is my intention, when
~ return, to organize an investment
company for the purpose of buying in
side property in Denver. / find, how
ever, that, even with the depression of
the past year, this class Of property
has suffered much less than was ey-
pected. and that it has held up in
prices wonderfully we'll / hope to get
number Of good options on desirahle
property, and will take them back with
me-"
NO FEAR OF AUSTRALIAN WOODS
Price of the Staple Higher Than I'm