New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-10
SENATOR CARTER AND THE MINE-oWNERS.

rho declaration OF Senator Carter for Nc
Ein,ev is conclusive evidence Of the rapid gain
which the Republican cause is making even in
silver States Montana has been so COM
plctcly dominated many years by the little
ring of silver millionaires. and that ring LAS
welded such despoiic power over the press,
the action of political parties and public "pl-
ion. that many have come to forget that there
are more woo-growers than mine-owhers IL
thar State. The few hundred men who have
been playing the dcspot over miners AMI farm
ers alike have recently been admonished that
the thousands of farmers are disposed I'D con-
slider their own interests. while dlnereilceS
about wages are said to have made nine
workers decidedly independent IN feeling
Even the mine-owners themselves. as they
studv tho question more closely, VIII see rca-
son to doubt whether il would help them in
tho long RIM 10 start all the smaller and at
present Improbable silver mines into full ana
vigorous operation throughout the world. by
the prospect Of getting higher prices for
bullion through free coinage in this country.
Thus the Republican cause is gaining In Mon
tana and many have expressed the hope mat
the Republican ticket would prevail even
against Democrats and POpulists combined.
II is not probable that Senator Carter would
have openly declared for Mckinley II he had
moi arrived at n similar conclusion. Ills
speech in Congress- his prominence in the COM
bination of silver boilers with Democrats by
which Il tariff was beaten last February. and
his failure for months to support the Rcpub-
llcan ticket nominated at ST. Louis. have
naturally led to the expectation that he would
rpp silver
with Senator's Tcllcr and Dubois and his own
colleague Senator Mantle. But Senator Car
fer has apparently discovered that the tide is
setting against the silver fanalicisn through
out the country aud so strongly that with his
helm even Montana may be carried for the Re
publican candidate.
/, has been IN amazing thing that hard
headed mine-owners who ought 10 know some
thing Of practical business. have ever dcudcd
themselves with the notion that their mines
would b. made more profitable in the end by
free coinage. The point which many of then
seem TO have overlooked is that the actual "ir-
culation and purchasing instrument i'll this
country is almost wholly OF paper which now
represents gold but which. If there were free
coinage would instantly come 10 represent
silver only Prices are fixed to-day in gold
dollars. and the silver itself passes only rs =
representative of gold Bui before free coin
age could begin. probably rs soon rs it hal
been decided upon 10y n popular vote, gold
would command n premium and would H.
completely withdraw from circulation AMI
all paper would speedily become redccmaic
in silver only. and would sink To the purclaS-
ing power Of silver.
II i pOsSiblc that silver bullion might riS,
for time. In that case mine-owncrs and
shelters and others who had accumulated
store Of bullion would realize large profits.
just they did in August 1890. when til" Sll-
YER purchasing act lifted the price 10 81 81
per ounce for "A single day Selling 10 realize
profits put down the price again, almost in
stantly in 1890. and il l. certain that the rush of
holders of silver here ard in other countries To
sell In the United States market would speedily
deprcss the price again, even il II should rise