Weekly independent. [volume] (Elko, Nev.) 1887-1914, 1897-08-22
PROSPERITY ASD SILVER.
In the course OF an Interview ut
Denver The other day, Senator Teller

In the course OF an Interview ut
Denver the other day. Senator Teller
said:
Il @ that a Denver business man
is convinced thai prosperity is upon
us because the TRANSACTIONS on the
New York stock exchange last Mon.
lay aggregated two AMI n half nil.
lions. Transactions on the stock ex-
change Rre not business. The coun
t1y has no interest III them. Tie,
"a OF no interest except To- few
REGULATORS in New York who live IL.
ubSinS tl,e people. The question Is
,rc the pcople who have mono! viii
.ug to- invest III new enterprises O.
buy Land. the question is whether
the manufacturers WHO have goods to
sell have anv better marSet. aud
whether the laborinS men have bet.
ter opportunities for employment.
-For my part | have cen few indi-
cations Of prosperity. or urs cat
tie have gone up. That will help the
country somewhat. Wheat has gone
up. not because Of the tariff or be-
cause OF any act OF the adninistra-
ton or because OF any political act
whatever, but because Providence
has not /, alt kindly with other paris
of the world. There is a great shor,-
age i'll the amount Of wheat produced
IN the world. This beng true the
price OF wheat must rise and rs we
have IL large crop We may make SOME
money this year. But II N prrS-
perity is TO be based on the miSfor-
tunes of other paris OF he world We
do not deserve ami ought not TO ex-
peci its continuance.
-Ihe fall i'll the price of silver. in
my Judgment. Is not at al strange.
There has been a tendency tc drop
since 1870. The decrease in the de-
mand for monetary uses and hostile.
legislation has been sufficient to
cause the price 10 fall. 1t is the gen
eTal belief that Il special eli rrt has
been made to ~depreciaie the value of
silver. Whether this is true or not |
do not know. But I 30 know one
thing. the declarations OF the presi
dent III his currency message To Con
gress Is conclusive evidence that the
administration does not propose TODD
any thing for silver. No man Il sense
expects Great Britain to 40 anything
toward an International agreement
for the use Of silver. l have settled
down TO the belief thnt nothing will
be done for silver for four Years.
Mexico will be benefited by the
fall i'll the price OF silver rs will every
other silver using country because
she a get more silver in exchange
for less products and the silver will
continue TO periLru the functions Of
money without regard to the dc ion ot
other countries. Mexican officials
have publicly declared th..s they did
not want silver restored to It's old re-
lations to yoli. They say they are
making more money under present
conditions; that is, Mckee receives
greater advantages from present con-
ditions than il silver were remon-
etized and put bIck to its old relation
10 gold. This advantage the Mexi
cans get 10y the encouragement to
exports, 10y tie bounty they receive
In obtaining cheap silver winch they
put into coin at the old ratio AMI b>
restric ions which this puts on the
importation ot foreign goods.
IF present commercial conditions
continue for ten years Mexico will
produce practically all she needs for
her " consumption and will be
come the competitor Of the manufac-
tnrcrs Of Europe and the United
States Ill MANI articles she has here
totorc not produced, or il produced
at all. then i'll only a limited de ,ree.
MEXICO is us liSely to go to the gold
standard as the Mckinley admins
iration IL likely TO support the free
coinage Of silver-just about.