The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-07-14
stocks
Our Boston Letter.


Midsummer dullness and the Chicago
convention made an irregular and weak
stock market last weak. Prices, as a
rule, yielded easily to the attacks OF the
bear traders who hammered the market
on every opportunity offered by the H.
quotation OF long stock by weak margin
holders or investors realizing for various
reasons. That some limit holders have
sold on account of the adoption of free
silver coinage plank by the national
democratic convention at Chicago can
not be denied. That they had a good
reason for selling or will be justified by
subsequent events il open to question.
With all the arguments pro and con on
the subject of the free and unlimited coin
age Of gold and silver the average voter,
or security holder. must become some
what confused Everyone doubtless, is
anxious 20 know what would be the re.
suit Of the adoption of such policy by
the United States. To the writer, It
would appear proper to look back on
the history OF the nited States from the
time il was organized in 1776until 1873,
during which time there was free and I'M
limited coinage oil silver and gold on the
basis OF lG to or 37125 grains of sil-
yer in the silver dollar and 22.23 grains
OF gold in the gold dollar. II the pro-
gress and prosperity OF the country dur
ing those ninety seven years was salts
factory il prices Of staple commodities
yielded fair profit for the producer. if
there were no jO-cent dollars, as we are
told there will be by the reconciliation
Of silver, ana il China and Japan did not
make dumping ground of the United
states for their surplus CD silver. then.
why il it not reasonable to suppose that
the results would be a restoration of the
excellent, prosperous and happy condi-
tions prevailing from 177G TO 1873.
Bean Eater should remember that Tor
part OF the time above mentioned silver
was at premium in Europe and hence
much oi the American SILVER was sent
over there and consequently instead OF
this country then being a dumping
ground, the reverse was the case.-Ed.1
Since thelatter date when silver. thecon-
ri u'ional unit and measure OF values in
the United States, was demonetized.
prices have declined az measured on n
20 basis, until the production OF nearly
all comm dities scarcely pays the cost of
producing. The gold moDometalism pol
icy Of the Inited States since 1873 has
been disastrous in all departments of in.
dustry. To return TO the former policy
OF coming both gold and silver. Bean
Eater thinks, ought to be as beneficial ma |
it was previous to the demonstration of |
silver
The COPE market has been very quiet |
end prices have been steady during the
past week. Producers, generally. are
asking Ia cents, hut actual transactions
are not in evidence above liz cents for
Lake ingot. The market for the metal |
must be considered quite strong m view
OF the heavy production so far this year
and the comparatively light consump-
ton. The surplus production has been
readily absorbed by the large export de
mand. Vast quantities of copper are
going abroad every week and as the for
eign visible supply n gradually decreas-
ing, il indicates an enormous consump-
ton Of the metal abroad. Most Of the
copper exported has gone to England,
France and Germany, where active prep
nrations are in progress in the army and
navy departments. Similar activity on