La Junta tribune. (La Junta, Bent County, Colo.) 1881-1939, 1898-08-31

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II made is itself favorable % the free
coinage Of silver in Mexico. and doubt
less in the United States as well, as it
urges that the cheap labor thus insured
invites investment Of foreign capital
There is therefore no partisan purpose
| In the statement which il therein made
that silver which is worth At this writ.
ing SAB cents per ounce in New York
and London is being produced in Mex
leo for so cents per ounca.
| Msxican Mising Lawn.
| II 10 reliably reported in the leading
daily paper Of this city that vein of
silver was struck near Guaynopa very
recently which runs 4, 900 ounces of sill
yer and ~ ounces Of gold 70 the ton.
and that during the past few months as
many rs 20 prospectors each week have
| fitted out i'll Ell Paso. Tex. and depart
cd for the Yaqui territory. the vicinity
Of the above rich silver find from all of
whom favorable reports arc being re-
ceived
In the state Of San Luis Potosi there
are veins of silver ore which can be re-
lied upon to yield annual profits, esti-
mated in gold value, Of from Is to 20
per cent, and in the state Of chihuahua
greater activity in mining and prospect
| ing is now being manifested than ever
before. and many valuable discoveries
are being made not only in the way of
hitherto unknown mines, but OF larger
| and richer bodies Of ore IN the older
mines | have further been assured by
| conservative and well informed resi-
dent of this city that modern mining i'll
this country is today in its infancy and
that during the next few years Mexico
will surprise the mining world with the
wonderful increase Of its silver output
| The mining laws of Mexico have been
| made very favorable to investigation
| and investment, insuring the prospector
full protection and enjoyment OF any
| thing valuable he may find Under the
present law, with q small expense for
''denouncement." three months are CIV
| en- the prospector to ascertain the value
| Of his find and to acquire possession II
its development may SO warrant The
yearly taxes are $40 per claim of 2i.
acres. and the property is held without
further obligation on the part of the
| owners.
have referred to the recent rapid
increase Of silver mining operations III
| Mexico and to the extraordinary profits
this industry offers and is yielding here
in order that practical. actual view
| Of the situation may be fully afforded
Capital is eagerly seeking investment
| in Mexican silver mining operations
| with the expectation Of selling the sill.
yer product Of their mines for from 5I
| to SO cents per ounce aud profits great
er than can be secured in almost any
other legitimate industry are being
made in mining here. and yet at this
| time the self styled bimetallists OF the
| United States are declaring that the
market value Of silver would be 81. 20
per ounce IL it were not for some al
legged conspiracy" against It and are
seeking to persuade the voters of our
country to attempt to make a commodi-
~ worth 81. 30 per ounce by legislative
| enactment which can be and is being
proftably produced for from 80 to 40
| cents per ounce
| False Assump ption.
! Just here the question may be reason.
ably inferred as to what warrant exists
in past experience for the declaration
that bimetallism. or the equal and con-
current circulation Of two metals as
money. can be secured or assisted by le-
| gal enactment. Fortunately for the sake
| of all the threatened interests Of our
country. absolute and complete denial
Of this assumption can be quoted from
the pages OF our country's history
In the formation Of the first mint law
| Of the United States in 1892 the proper
tion Of silver and gold for the coins Of
our country was determined by refer
| ence TO the market value Of the two
| metalA Alexander Hamilton knew that
| legislative enactment would not give
| one. half Of per cent value to either
| gold or silver coin, and he CONSULTED the
| market values TO determine the quanti-
| ties OF metxl each coin should contain
Thomas jefferson also thus expressed
himself ct that time: ".Iust principles
will lead us to disregard legal proper.
tions altogether, 70 inquire into the
market price Of gold in the several
countries with which we shall be prin.
cipally connected in commerce and 20
take an average from them" 1t hap
| pened, however, that in the selection Of
| . ratio for the first coins gold was slight
| iy undervalued. aud the result was that
It did not circulate In 1884 an effort
was made to secure the parity Of our
gold and silver coins. not by Legislative
enactment. but By reducing the quantt-
| ty Of gold In the gold coins There was
| but the difference Of few cents b.
tween the market value OF our gold and
silver dollars at that time. but the law
which declared them equal did not ~
move or in the least affect that differ
euce. Silver was slightly undervalued
4 BY the coinage provision Of 1884, and Il
| remained ont Of circulation until ancth-
q change in coinage was made in 1858,
which gave M the use Of silver az We
have it today. exchanging concurrentiy
1 with gold BY reason Of government coin.