Southwest-sentinel. [volume] (Silver City, N.M.) 1883-189?, 1895-04-16

FIT. BAYARD, N. NJ. April 4, '95.
Ed. SOUTHWEST SENTINEL:


ED. SOUTHWEST SENTINEL:
Using gold as the sole unit Of
value places the market Of the
world in s6eh a position that a
few men, who are known to carry
the money Of the world, are ena-
bled to cause the gold to disap-
pear into their vaults. This re-
rults in an artificial scarcity Of the
medium Of exchange. Those who
are in business and who are press
ed for a medium of exchange, be-
come frightened and unload on
the market, if they can, with the
further resultant depression due
to their lack of confidence and
their necessities. Those with gold,
money, the medium of exchange,
at once come into the market and
buy, with the one proviso that the
depression has gone below the
cost Of production. This l believe
is the present condition of the sill
yer market. Silver, by the com
bined action of the gold men, has
been demonetized and then by
pressure on the producer has been
depressed below the actual cost of
production. The mines with
large veins of high grade rock can
of courre produce it for less than
the present price, but the larger
amounts are procured from low
grade properties. This low price
has now been kept up until all of
the smaller fish have been com
PEELED to let go their holdings at
current price, and now the large
fish have sliced everything in
sight and the world is getting
worn out with their exactions and
is preparing to revolt from their
control. They are proposing to
again play the part of the philan-
thropist and guide the world thro'
the present crisis of remonetizing
silver. They have absorbed all
the silver they can hold and are
now willing to unload at $1.29,
that for which they paid go cents.
That silver is the true unit of val
ue is shown by the way in which
the market answers to the price OF
silver; for as silver goes up, up
comes the rest Of the market with
il. The amount of gold is so small
that a few men can gather it, and
hold it, make a corner and then
let it out at an enormous advance
The result is that the commercial.
world finds that it must hold on tC
every cent that it can get from the
money world, and that it mus.
hold on to everything it can. La
Dor, being the easiest to handle
and control, owing to its stomach
is the first to suffer. The manu-
%facturer, not being able to get Sc
} high a price for his goods, refuses
to pay the usual price to the pro.
Queer of the raw material and they
cut their labor in order that they
may themselves get a living. Al
the while the man who handler
!, money, gold, alone, who oeals only
in money, sits in his office and b,
! his control over the medium o
exchange, takes toll from both a
they go by. Now he sits and see
!. from his Office that the m%ercantil.
: world has reached about the low
, est point consistent with safet,
to his position, and now he viii
look for another victim t,
5 fleece. AS he has all that silve
: can give him, he will let the worl,
loose, allow it to recover 1t
I strength, and then when it j
r strong and full of blood, he will
again tap the victim and exhaust
not kill him quite, but just bleeI
him to exhaustion, not death. I
has always been that brain will
take the best; Drawn will tax
g whet is left. England, the gol
1 men, buy on the market the ral
! product in silver. What else doe
the present depression mean ex
I cept hat the rest of the market i
, depressed along with silver an.
D that while gold is really paiC
! nevertheless it has appreciated i
value, owing to the great demanI
on it, to such ar extent that prac
: tically they pay on a silver basis
t The recognition of the fact tina
it is q lack of the medium of ez
change which is causing the great
! est difficulty, will do much goot
5 The great depression of prices i
3 dine 10 this lack of monav md =