The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1896-10-08
SILVER TRUSTS
DOODLE FUND.
NOT TAKING ANY CHANCES
Its Members "ChIp In" to Elect
Bryan and to Make Profit
of Ga Cents an Ounce
on Their Silver.


Especial. Correspondence
Thomas G. Merrill Of Salt Lake City,
secretary Of tho Bimetallio league OF the
silver states, has let the silver cat out OF
the bag. He has exposed the plans of the
silver mine owners, has called upon them
IL "ohip in" one month profits from their
silver mines to help elect Mr.. Bryan and in
augurate an era of free silver, and he has
pointed out to them how In return for this
assessment they will be able to make a
clear profit Of 81 cents an ounce on every
ounce they take to the minis to be coined
under free silver regime!
The aims, objects and hopes of the Sill
YER trust to which Mr.. Merrill ap-
pealed, were frankly SGT forth In letter
which he wrote for the Salt Lake Herald
of Sept 81. In this letter he reminds the
silver mine owners Of 1.-THE great benefits
that will accrue from the adoption of free
coinage with Its restoration Of silver to
its place as full legal tender money at a
ratio Of 10 to and the immediate return
of silver to Its former price Of e1.29 an
ounce" If Bryan is defeated, he adds, 1--WE
must expect to see silver sold at price
that will be given 1t simply by its demand
for use in the arts, which will certainly be
not more than 40 cents per ounce" In
view of these facts, he asks how "the own
ers of silver producing properties can afford
not to contribute at least the additional
profits they receive for their own silver
product for one month" to the Bryanite
campaign. He closes with direct appeal
to wealthy and well known silver mine
owners as follows:
II appeal to Messrs Mcintyre and Cum
bingham of the Mammoth, Keith and
Kearns of the Silver King, Chisholm and
others Of the Centennial Eureka, Ryan
and Knox OF the Ajax, Packard of the
Eureka Hill, DAILY Of the DAILY, West Beck
and associates of the Bullion Beck, Farms
worth and Sharp Of the Horn Silver, and
the owners of the Sioux, Ontario and other
silver mines Of this state, who can well
afford to assist in this cause, to figure up
tho average monthly silver product from
their mines and multiply the product OF
one month In ounces by "a cents, which is
the additional price they will receive for
their product-all of which will be profit
and at once have that amount contrib
uted and placed In the hands of the treas
urer of the bimetallic parties to assist MIR.
Bryan in the wonderful campaign he is
making almost unaided. If we can secure
the additional profits of one months prod
uct of the western silver producing mines,
1t will insure success to the election on
Nov. g."
This frank, candid and powerful appeal
to the selfish instincts Of the mine owners
naturally produced profound and imme-
diate effect. They knew how unstable the
price Of silver is, and they were eager to
do anything which gave promise of boom
ing It's value and Of returning to them, ac-
cording to Mr.. Merrill's admission, a
handsome profit of 81 cents an ounce
The mine owners organized that very
night and formed themselves into strong
alliance for mutual profit. A call had
been issued that afternoon, and ut night
"a liberal representation Of the leading
business men of Salt Lake City respond
ed, and several Of the silver mine owners
to whom Mr.. Merrill appealed were pres
emit.
The meeting "created what will be
known as the Bryan campaign financial
committee, which will be general COM
mittee to have charge Of collecting funds
in Utah to assist the silver campaign"
The committee is composed Of S3 men,
bers including these mine owners whom
Mr.. Merrill directly addressed-Messr
DAILY, Packard, Beck, Knox, Mcintyre,
Kearns, Farnsworth, Cunningham, CHS
holm-and Merrill himself This commit
tee organized at once with r. G. Cham.
bers, president of tho Salt Lake Herald
company, q prominent free silver organ,
as chairman
"After the meeting" says The Herald,
"the subscription list was started among
the gentlemen present with results which
proved eminently satisfactory. The work
of raising funds will be pushed with will
to the end that Utah's financial assistance
to tho silver cause will rebound to the sin
certify of her people in their desire for free
silver"
Thus was set on foot the movement
among the silver mine owners of Utah to
help themselves and to make profit OF "a
cents an ounce on their silver by electing
Bryan with the aid Of big campaign fund.
But the Utah silver mine owners are not
alone In this highly patriotic scheme to
place in their pockets this handsome profit
of 100 per cent on each ounce of their com
modify. All the silver mine owners will
want to share In this glorious division,
and under free coinage they will be per-
fectly free to do so.
Just think for moment what their
profit would be! No less eminent an au-
thority than E, o. Leech, ex-director OF
the mint estimates 1t in this way: 1.-The
annual product of the mines is 175, 900, 900
ounces, worth at the present market price,
6t cents an ounce, s113, $50, 900, for which
our government is to pay, when silver is
worth 81. 90 an ounce, s226, 900, 900 in gold
"a snug little profit to the owners OF sill
yer mines of SIP, $780, 900 on the present
annual product only" But with silver at
ST. go an ounce under free coinage this out
put will, of course, be enormously in
creased, and the profits of silver mine
owners will increase correspondingly. No
wonder the silver mine owners responded
at once to Mr.. Merrill's appeal, and less
wonder that the passing around of the hat
at the Salt Lake City meeting was accom-
plished with "eminently satisfactory" re-
suits.