Belding banner. (Belding, Mich.) 1889-1918, 1898-08-11

There is therefore no partisan purpose |
i'm the statement which is therein made !
that silver which is worth at this writ
ing 549a cents per ounce in New York
and London is being produced in Mex
leo for 30 cents per ounce.
Mexican Mining Laws.
1t is reliably reported in the leading
daily paper of this city that vein of
silver was struck near Guaynopa very
recently which runs s, 600 ounces OF sill
yer and III ounces of gold to the ton,
and that during the past few months as
many as 20 prospectors each week have
fitted out in FL Paso Tex, and depart
ed for the Yaqui territory, the vicinity
Of the above rich silver find from all OF
whom favorable reports are 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 l8 to 20
per cent, and in the state of chihuahua
greater activity i'll 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 i'll the older
mines. have further been assured by
n 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 small expense for
announcement" three months are CIV
| Ell the prospector to ascertain the value
| of his find and TO lire possession III
| its development m " so warrant. The
yearly taxes are so per claim OF ~
acres, and the property is held without
| further obligation on the part or 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 a 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 81
TO So cents per ounce, and 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 thu
market value of silver would be 81. 2!
per ounce if it were not for some al
legged conspiracy against it and ar
seeking to persuade the voters of on
country TO attempt TO make a commodi
ty worth $l.29 per ounce by Legislative
enactment which can be and l., beinl
profitably produced for from 30 to A.
cents per ounce.
A False Assumption.
Just here the question may be reason
ably inferred as to what warrant exist
in past experience for the declaration
that bimetallisn, or the equal and con
current circulation of two metals 4
money, can be secured or assisted by lie
; gal enactment. Fortunately for the SAX
Of all the threatened interests OF on
country, absolute and complete denia
of this assumption can be quoted iron
the pages of our country's history
In the formation of the first mint lay
of the United States in 1892 the proper
ton of silver and gold for the coins c
our country was determined by refer
; ence to the market value of the tw
metals Alexander Hamilton knew tina
: legislative enactment would not Civ
I half of per cent value to either
gold or silver coin, and he consulted tn
q market values TO determine the quaint
y ties of metal each coin should contain
+ Thomas jefferson also thus eXpresse
himself at that time: Just principle
; will lead us to disregard legal propol
tons altogether, to inquire into tn
9 market price of gold III the sever;
countries with which we shall be priI
! cipally connected in commerce and
, take an average from them. It hal
pened however, that in the selection {
o a ratio for the first coins gold was sligh
> ly undervalued, and the result was thu
: it did not circulate. In 1884 an effol
: was made to secure the parity of OF
q gold and silver coins, not by Legislative
o enactment, but by reducing the quaint
u ty of gold III the gold coins There W;
% but the difference of few cents b
!, tween the market value of our gold al
II silver dollars at that time, but the la
% which declared them equal did not r.
/ move or i'll the least affect that diffe
70 ence. Silver was slightly undervalue
" by the coinage provision of 1894, and
ii remained out of circulation until anotl
$ er change in coinage was made in 1856
= which gave us the use Of silver as v
II have il today, exchanging concurrent
- with gold by reason of government coil
age and the government policy to so a
y hold it through practically giN yhoi
L of exchange to the holder.
y And yet with these historical facts
- view we are at the present time urge
% to believe that free coinage would NAL
IL a piece Of silver worth 40 cents equal
4 81 n, ,yolI hat, tba emma ft.oa ooina,