Mexico weekly ledger., 1895-06-20
A Gigantic Combine.
A SYNDICATE OF WESTERN MINE
OWNERS TRYING FOR BIG
PROFITS.
Stand to Make From S50,OOO,OOO to
S75,00O,OO0 Behind Free Sill
yer Agitation.

AlSNNa ~
inpton: A combination of Western
mine owners and their moneyed allies
in Philadelphia and New York Is car
rvIng between $50, 600 900 and S6O,Oo0,-
600 of silver bullion. 1t has about
| SO. 900. 900 of its own in the pool and
is borrowing the rest in New York,
| London, San Francisco and other
| cities where capital is available on
| silver collateral. The pool can bor-
row on silver close up to the public
| quotations, though it is not obliged to
| do So, having a large surplus OF It's
own, but it nevertheless finds the deal
a costly one. The interest and storage
| charges are now running at the rate
of nearly $4,000, 900 a year, and they
are getting larger, for production a
not stopped, and the combination Is
making a market for the output of the
mines-making one by taking the bull
lion and storing it. The combination
is playing desperately and courage
ously for a splendid stake. If it can
force this Government into free coin
age it stands to make anywhere from
$50, 900, 900 to SIS, 900, 200, depending
the time, the amount of bullion it will
have on hand and other circumstances
and conditions now largely specula-
tive.
People have wondered at the eX-
tent, the dash, the persistence, and
force of the free silver campaign.
They have marveled at the energy
displayed by the apostles of silver,
their ability to owe territory, and
the unfailing regularity with which
the leaders turn up in the thick of the
fight, whether activity is conferred in
Memphis, New Orleans, Denver,
Springfield, Chicago or Kentucky.
Most of the takers of note are poor
reinstatement out of jobs-yet they
travel in palace cars, put up at the
best hotels, take long jumps, and are
there, here and everywhere, marshal
ing the forces, infusing enthusiasm
into the masses and keeping up inter
est by every known artifice.
How can they do it?
The answer is simple. The silver
combine is paying the bill. The silver
campaign now raging with such Al
| appearance of violence in half the
States of the Union is inspired by the
silver conspirators, and is purely a
business an enterprise as a wheat,
pork or a stock corner ever was. 1
, is sordid from the ground up, but 81
: ~cleverly have the con]spirators KEEP
themselves in the background tina
the truth is only beginning to appear
Even now many of the details arr
lacking, but the main fact is known
5 and the particulars will be filed in a
! they come to light. The great mas
of silver bullion has been acquired b.
t the combination under 20 cents pc
ounce. If the campaign now on foo
can be carried to a successful issue
2 the holders hope to be able to UNLOAD
at s1.20 and above. By keeping III
the agitation they imagine that withil
two years they viii secure such legis
lation as they need, either by inter
2 national agreement or by Independent
action by this country.
They very strongly prefer interna
/ tional action, and it will be observed
!, that they have recently given the dis
j cussion that turn decidedly, the mel
!, who are posing as leaders OF tn,
movement having been given the GU
t to soften their demands for free coin
age by this country, regardless OF tn
: position of other commercial nations
Being business men, engaged in
e strictly business enterprise, they ar,
3, not anxious to play too strongly for
e point they do not want to make.
The g~o-it-alone policy is a goot
enough card to excite the ignorant
but being unsound from every sensi
BILE point of view, the men in tn,
background concluded not to push i
s too hard. Their object is to make
= market for their enormous accumula
e ton of white metal, and they do no
intend to commit the mistake o
r spending millions in money, years o
t time and wasting tons of gray matte
. on something that may do them III
r good.
In other words, they do not fee
! sure that if this country should go in
to free coinage alone they could sci
out at the profit they are working for
They are not certain that they would
t be in any better position under sucl
t conditions than they are now, ant
. have no appetite for going into doubt
full experiments. The financial indie,
pendence Of this country is a splendid
idea, a noble, patriotic theory, bu'
practically it is not what the silver
conspirators are really after. They
, want legislation that will advance the
} price of their silver bullion 100 pei
cent. They have so, 600 900 to S60,.
DOC, 900 worth now in their control. II
two years more they will have 800,
600 900 worth on hand.
}, That means they will have to in,
crease their original investment oil
$40, 900, 200 or more. They would like
quick action, of course, and with g
more complaisant man in the White
House they would press the play to q
conclusion as DOR as the Fifty-fourth
Congress convenes. Now, however,
with Cleveland standing ready to kill
Independent free coinage, anything
done in a radical way will be merely
for effect, and the real expectation OF
the bullion conspirators is to compel
progressive action on the part of the
United States in the matter of an in
ternational monetary conference, hav-
ing a union of commercial nations on
silver coinage for its cardinal motives.
They have already laid their plans
to commit the Cleveland convention
next week to ap endorsement of that
course. They interferred at Memphis
this week to prevent extreme action
looking to Democratic party disrup-
ton, and they are moving everywhere
to the adoption of a more moderate
course than they had originally out
lined. Their trumpets may still be
permitted to noisily demand free and
unlimited coinage by this country, but
| tho nniaa ufI1 ha A,,lxy - o-a;1a -,