The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1895-11-23
THE SILVER RING.
Dcsrs1ste Game OF the Cheap Money
Schemerr. 80.

schemers. @S
A story comes from Chicago which
explains the sudden impetus to the
Tree coinage Mt sixteen to one crusade.
which began this summer, but which
was thoroughly squeiched by the cam.
paign OF education instituted against
1t. 1t was plain to anyone that there
was directive force behind the move.
ment. 1t attempted to control state
political conventions, and in states
which have no campaigns on this year
1t obtained the calling of conventions.
ostensibly to consider the financial
question" but in reality to make it APP
pear that there was great .spon-
taneous uprising of the people in favor
OF the free silver fallacy.
The story above referred to explains
this A combination of western mine
owners and their moneyed allies in
Philadelphia and New York is carry
ing between Atty million and sixty
million dollars of silver bullion. 1t
has about ten million dollars 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 borrow on silver close up
to the public quotations, though it is
not obliged to do SO, having large
surplus OF its own, but it, nevertheless,
finds the deal costly one. The inter
est and storage charges are running
at the rate of nearly two million dol
lars. and they are getting larger, for
production has not stopped, and the
combination is making a market for
the output of the mines by taking the
bullion and storing it.
This combine is playing desperate
game, but for splendid stakes. If it
can fool the people, through the false
hoods aud fallacies of men like the
author of "Coin," into electing men to
congress who will enact free coinage
law at sixteen to one, it will make any
where from fifty million to seventy
I'VE million dollars. depending on the
time, the amount of bullion it will
have on hand and other circumstances
and conditions now largely specula-
tive. ALI this explains the persistency
and energy displayed in the free sill
yer propaganda, and the fact that q
certain set of orators turn up at every
possible occasion, in any part of the
union, which affords an opportunity to
expose their fallacies.
1t is noted that these silver workers
are not generally men of wealth. yet
they travel in palace cars, put up at
the best hotels. take long jumps, and
are here, there and everywhere, mar
shaling the forces, infusing enthusi-
asm into the masses, and keeping up
the interest by every known artifce.
Now 1t is asserted that the silver COM
bine is paying the bill. The campaign
is inspired by the silver conspirators,
and it isas business-lilse an enterprise
as ever was wheat, pork or stock
corner.
The mass of the silver bullion on
their hands has been acquired by the
combinations under seventy cents per
ounce. rs the campaign on footscan
be carried to successful issue the
holders hope to be able to unload at q
dollar and twenty cents and above. BY
keeping up the agitation they imagine
that within two years they will secure
such legislation as they need, either
by international agreement or by indie
pendent action by this country, and it
will be observed that they have re-
Gently given the discussion the for
mer turn. Decidedly the men who are
posing as leaders of the movement have
been given the cue to soften their de- |
mands for free coinage by this country,
of the position of other COM
nations f2 ~ a5fs'fst
OF course, principle has nothing to do
with the action of these meu. They look |
on silver propagandism as strictly bust.
ness enterprise, and hence are not anx-
Ious to play strongly for point they
do not want to make. Their object is |
10 make a market for their enormous !
of white metal, They |
10 not feel sure that IL this country |
should 20 into free coinage they could |
sell out at the profit they are working
Tor. They want legislation that will |
advance the price of their silver bull |
Ion one hundred per cent. They have
fifty million to sixty million dollars
worth now in their control. In two |
Years more they will have one hundred
million dollars worth on hand. That |
means they will have to increase their
original investment by twenty million
dollars or more. 90 Al1t ~
While it is fact that the silver
has received a severe back
et during the past three months, the
eaders do not despair. They propose
o keep up the agitation, -and force, if
,ossible, some recognition IN next
ears national conventions. Fore
warned is forearmed, and the friends of
loncst money must not relax their vig-
lance. They. must realize the fact
hat vast conspiracy ison foot, backed
" huge capital, to force this nation to
silver basis. The country's prosper
ty is threatened, and it behoovcs us to
,eep steadily at work to .counteract
he conspirators. Toledo Blade.