Daily independent. [volume] (Elko, Nev.) 188?-1915, 1897-08-18
PROSPERITY AND SILVER.


said: :. >st.- ... ...
Il see that q Denver business man
is convinced that prosperity is upon
US because the transactions on the
New York stock exchange last Mon
day aggregated two and a half nil
Lions. Transactions on the stock ex-
change are not business. The coun-
try has no interest i'll them. They
are Of no interest except to few
spectators i1 New York who live by
.robbing the people. The question is.
are the people who have money w1fl-,
1gGtq invest in pew enterprises or.
buy land. The question ,is whether
the manufacturers WHO have goods to
sell have anv better market, and
whether the laborinR men have bet.
ter opportunities fol: employment. p.
4For my part haye seen few midi
CATIONS Of prosperity: OF course cat
tie have gone up. That vail help the
country somewhat. Wheat has gone
up, not because OF the tariff or be-
cause Of amy act Of the administra-
ton OF because Of any political act
whatever. but because Providence
has not dealt kindly with other paris
OF the world. Yhsre is a great short
age in the amount Of wheat produced
In the world. This being true the
price of wheat must rise and as we
have u large crop we, may make some
money this year. But if our pros
perity Is to be based on the misfor-
tunes of other parts OF che world we
do not deserve and ought not to ex-
pect it's continuance.
"rhe fall in. the price Of silver, in
my judgment, ID not at all strange.
There has been tendency to drop
since 1888. The decrease in the de-
mand for monetary uses and hostile
legislation has been sufficient to
cause the price to fall. 1t is the gen.
eral belief that special effort has
been made to depreciate the value of
silver. Whether this is true or not
do not know. But / do know one
thing, the declarations OF the presi
dent in his currency message to Con.
gress ID conclusive evidence, that tho
administration does not propose to do
anything for silver. No man Of sense
expects Great Britain to TO anything
toward an international agreement
for the use OF silver. l have settled
down to the belief that nothing will
be done for silver for four years.
"Mexico will be benefited by the
fall in the price Of silver as will every
other silver using country because
she can get moro silver in exchange
for less products and the silver will
continue to perform the functions OF
money without regard to the action OF
other countries. Mexican officials
have publicly declared th1t they die
not want silver restored to It's old re-
latioDs to gold. They say they are
making more money under present
conditions; that is, Mexico receive!
greater advantages from present con
ditions than if silver we're remon
cited and put back to its old relatio,
to gold. This advantage the Mexi
cans get by the encouragement tc
exports, by the bounty they receiv.
in obtaining cheap silver which the,
put into coin at the old ratio and b,
restrictions which this puts on til,
importation OF foreign goods.
"lf present commercial condition
continue for ten years Mexico will
produce practically all sho needs 70
her own consumption and will be
come the compeCitor Of the manufac
turers OF Europe and the Unite,
States in many articles she has. here
tofore not produced, OF il produce,
at all, then in only a limited degree
Meyico is as likely TO go to the polt
stardard as the Mckinley admins
tration 10 likely to support the fire.
III