The Evening dispatch. [volume] (Provo, City, Utah) 1891-1895, 1895-03-15
MARCH 10, 1895
SILVER AND THE EAST.

Several days since the associated
press reported small but very graft
flying advance in the price of silver but
the causes underlying the advance
seemed mysterious until the news was
brought yesterday that the advance
was caused most likely by the bank erS
of Europe who are preparing to supply
the $3.50, 100000 indemnity demanded
from China by Japan. The first dis
patch stated that this immense sum
was to be paid in gold, but sober sec
ond thought brought out the fact that
silver was and is the official money of
both China and Japan and that the in,
. demnity would most likely be paid in
that metal-the gold being used to pur-
chase it. This being the case, OF course
the good effects of the demand would
be shared by the western silver men in
common with the holders of silver, else
where in the business world. The
sharp advance of one and one-half
cents per ounce was due to the fact that
both the British and German bankers
in anticipation of their share Of the
business. went into the markets and at
once commenced buying silver. That
at once opened the eyes of our own
bankers and thlill penetrated to the
mountain Businesses of the west, caus-
ing many disheartened silver man to
reflect that he had better at once reopen
his mine and stop for time his howl
ings over the hard times and the cruel
fate of silver. Two hundred and
fifty thousand dollars In silver are
not to be picked up every day. The
silver in the United States treasury
cannot be made available in this case
and that sum cannot be obtained either
in Europe or India in less than three
years. The argument is that the quick
est available supply is to be found in
the rich silver mines of the Rocky
Mountains.
Give us three years and with salts
factory guarantee as to price and Utah
will undertake to dig it herself. No
news has been flashed over the wires
for the last three years which has been
more gratifying than this. The cir
cumstance indicates that no matter
when and where transactions of such
magnitude take place, the world has to
come to our brave western silver
miners for the metal supply. The
bankers of New York and London may
DOW and then get corner on US, but
when it comes to the supplying of a
sum running into the hundreds of mil
lions, they must have silver, and there
is no adequate supply anywhere else
save in these blessed old Rocky Noun
tains of ours. To pay off this matter
of $3.50, 100000 in gold, at least $780,
100000 Of silver will be necessary and
Utah will be called upon to do her
part Tintic ana Park City will both
bless the plucky little Japs, if they
will stand for immediate payment or
short time paper, and that they have
demanded an indemnity which Europe,
India and China herself altogether
cannot supply and SO we will be called
upon to dig it. 1t will result in a very
sharp advance in price, perhaps as
much as Is or so cents per ounce. Ii it
goes to that the good effects will be 90
plain that the circumstance will be
used to force reconciliation, and the
old price and footing of silver.
If any such thing follows, ten years
will see the western states the richest
in the union and Utah the richest
in the west. The long night
of dependency and bankruptcy
is drawing to close. Light
is breaking in the east. Now let every
man owning silver lead get on to it,
stay there and go to work. That is
the shortest road to fortune which now
appears open. England will doubtless
engage to furnish the money upon
such security SIS China may be able
to furnish, If she does, there can be
no doubU but she will go to the pro-
posed conference and put in her plea
for silver, $250,000,000 in silver put
down in the east will force her to re-
open the India mints, and when that is
done again, silver will be forever safe
from the rapacious bankers OF England
Germany and the United States. In
deed this circumstance opens before
'ur eyes long Yistas of good times,
work, plenty of money and effulgent
hopes for the west, SO long struggling,
,ound hand and foot, at the mercy of
he spectators of the east and OF
europe.
TIE New Orleans riot is not fairly
rested by the western papers. We
uppose it. is because they do not un-
Ierstand the situation exactly. The
lot was between the white and colored