The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-08-27
MINING.
stocks,
BOSTON, August 26 1895
A Nut For sIlverites TO Crack-A Six
ty-Dollar Convert.

\ county storekeeper in the State OF
Washington writes somewhat as follows:
IL had been one of the waverers on
the silver question, not because believed
in the silver mems arguments, but be-
cause II looked az II the nation had its
mind made up for silver, and | thought
tue sooner we came 10 il the sooner the
hard times would mend. Anything
would be better than the hard times of
the last three years At least, so
thought. had forgotten the last state
OF the fish that jumped from the frying
pan into the fire. | came out for sill Ter
aud then our little frontier community
was solid on the question. We we're
prepared to carry the gold fort at a SIN.
gle rush. Then came the overturn which
divided the camp again. Ny contribu-
ton TO practical proof OF our folly cost
me over $50, on the face OF il, although
! shall eventually get part Of il back.
Quite a number OF nv nelghbors had been
working on the State road at good
wages, promptly paid in warrants on the
State treasurer, which would draw :
per cent until paid. Az our State is
good security, these warrants would sell
at about par and had taken many OF
them for which the bank at Seattle had
given me prompt credit Late in July
| had out over $50 worth of these TO the
bank and on the eth OF August, when my
returns should have reached me, found
instead the following from my banker:
We return YOU warrant No. 30, 1873 We
do not deal IN warrants curse yes, but
sell them To investor for the credit OF the
depositor. Up to this time there has
been no trouble in selling them at about
lar; but the uncertain future, caused by
The silver talk, has scared off all inves-
tors, and wehave looked in vain for pur-
chaser. The last warrant called by the
State treasurer for payment was num-
bered II, 100, aud a. your warrant will
not be called for year, at least, il is i'm.
possible to predict in what kind of money
it will be paid. The investors do not
doubt that the State will pay 100 cents
On the dollar promised; the question il,
will the dollar To be decided upon by the
voters in November be IA good dollar
as at present. Until this question is
settled we can take no more warrants
at above ~ per cent. IL is, TO say the
least, humiliating TO find our States Sc
curities in such unsaleable condition, but
unless gold il guaranteed no longtime
security il saleable here
This was a 'stumper. saw then
what the practical result would be If sill
yer came in sell my warrant at face
value but that face would be in the
market only hall a face, and would buy
only hall the sugar that United States
money will buy today. For example
the Chinese sugar az which now buy
twenty pounds for 81. will her, after. on
silver basis, cost 10 cents pound. in
formed the people who happened 10 b
IN the store that State warrants would
no longer be accepted and explained why
they would not. They could all see the
force OF the logic Employed; and not
few said that hereafter gold would b.
their money. | will confess that could
not help feeling that had fallen from
grace, when | must needs be convinced
at my personal cost. Of the harmfuness
OF practice, that had always suspect.
ed OF being designed 10 create wealth for
some at the expense of others ! don't
mean TO be that other, and ! won't ask
another Ia"