Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1895-09-05

company, and In It there ia one mine
where the cost was Ii and q fraction
cents, and he names another where
1t was "a cents. Now / submit that
that is ample proof Of the proposition
l stated and undertook to make you
understand here previously. Silver
mining is like ANYTHING else. Men do
not engage In It - q business for fun.
they engage in 1t for the purpose of
profit, OF getting ahead In the world,
and whenever silver mining costs 81
an ounce men who are in it paying
their expences and can only sell it for
60 cents will quit that business, you
know ~(applauseh yes, they will the
SOME SILVER MINES I'LL DO BUSINESS.
The mines that are mining silver at
less than 60 cents will keep right on in
the business: they will get the price,
as l told you before, Of those concerns
that live and barely produce 60 cents.
They get the highest price at which
anybody can produce It and still stay
In the business. Now, il silver drops
below 60 cents there are q few mines
that will have TO shut down; the mine
that is taking silver out for Is cents
an ounce does not shut down. it keeps
right on and gets as high q price as it
can, and that will be 6xed by the
highest mine that still produces it and
stays In the business.
mo man who knows anything about
the laws which govern production will
dispute my proposition In this regard.
Hence-nOw listen-hence the men
who own mines and those who owe
sums OF money in excess Of the money
due them, II they oan work the scheme
to pay their debts in cheap money,
and II those men who own the mines
manage to get three times as much
as 1t costs them for their product,
they may be benefited, but the balance
Of the people Of this country will re-
oeive nothing but injury from this m
tire scheme" (Applause.)
Mr.. Harvey-~I am going to permit
myself to be diverted for. q moment.
What Mr. Horr has said about the
cost Of producing silver he could have
said with . great deal more force
about the cost of producing gold.
(Applause.) Gold and silver are alike
in their geological formation, in this
that silver only is found in hard for
nation and gold is found in the same
hard formAtion-in quartz veins. In
that they alike. In this they are not:
Gold IL found In placer mining-and
most of It has come from placer min
ing-and there gold is produced very
cheaply because it requires no miners
picks or blasting powder nor working
in hard rock, and no quartz mills are
necessary; it is PANIED out or sluiced
out at q very small cost of production.
Silver Is never produced that way. and
gold, dollar for dollar. costs q great
deal less than silver does. (Applause.)
Now l Am going to read from Del Mar
on the history of money, the book
you read from the other day. He
says:
"'Apart from other considerations
average cost Of producing a pound of
silver from the beginning Of the world
to the present time, has been far
greater than that of producing a
pound Of gold" (~Applause.) That is
by weight, which means: that it has
cost sixteen times as much to produce
gold. Now this is the fact, gentlemen,
that silver and gold where found in
quartz formation are mined not only
with great difficulty but with great
uncertainty; the precious mines are
not even and certain like coal and iron
veins-you have got it today and lose
it tomorrow.
Now you ask me, Why then do they
continue to producer Tell me why
men will gamble on the board Of trade
of Chicago and l will answer you. ZAP
plause.) It is that feverish desire of
men to make q fortune suddenly, and
occasionally somebody does it in the
precious-metal mining, and that is the
reason why they keepat it.
snow. Mr.. Horn says that so many
ounces of silver have been produced
since 1873, year by year, and increasing
and he says il they are not making
money out of it why do they continue
it. Now that is answered in this:
First, q large per cent. of that comes
out Of the production of gold. In the
production of ~gold-they are welded
by God Almighty in the earth (cries of
"Good! Good!" and applansel, and in
refining the gold q large percentage of
the silver we get is produced; to get
one you must get the other. In the
next place over so per cent of all the
silver produced ONE from prospects
where men are trying to make mines,
mines that r not paying in either
gold or silver or both, and they are
shipping that to get back what they
can. lApplause.)
II will direct your attention to where
this trouble comes from, and / do it by
continuing with the subject that I was
on, because / am now travelling with
you to the point whence all our troub-
les have come. / have nothing against
the bankers individually. I have
against their system. They are q
smooth, polished, well-fed class Of citi-
zens, and OF any subject that does not
threaten their system they are patri-
otto, intelligent people. They cannot
9 why they should not loan the same
money over and over again until they
work the quantity in existence up to
the quantity required. To have what
money there is play through the banks
like q shuttle-cock, weaving their for
tunes, Is q system they consider worth
defending. The Shylocks Of old loan
cd their money; the Shylocks Of
today have 9 system by which they
loan other peoples money. (applau4e.)
They : defending that system.
"They are organized, / read from
1900 n1G - ~~~1r-A q 500 q w.