The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-06-29
SILvER'S UPS AND DOWNS
How the Crash Affected Philips
burg and Western Montana.
THE PRICE Is CLIMBING UP
June, the Month OF the Mighty Fall Five
Years Ago, Marks the Date OF the
Steady Rise This Year-Easier
Feeling in the Burg.

Five years ago this week the great
fall in silver took place and disaster
stared in the faces of the silver com
munities. About June 25, 1898, silver
was quoted at s0h cents and a few days
after the startling announcement was
made to the world that the Indian minis
had been closed to the coinage of the
metal. There were exciting times in
Western Montana. Philipsburg will
never forget the day If the other camps
in Montana do. A big Fourth of July
celebration had been planned and all of
the citizens took active parts in the ar
rangements to observe the day as was
the custom. Business men had sub
scribed literally and everybody was
happy in the anticipation of a grand
blowout. Just before the LIST of July a
small piece of paper was seen on the
door of the First National bank
Closed Soon after the big depart
ment store of Freyschlag. Huffman &
Co. closed its doors. Then there was
CONSERVATION in the lively camp. These
wrecks were followed by the closing
down of the Granite and Bi-Metallic
mines and the mills. Miners began 10
pour out of the camps of Granite and
~h1lipsbu a pound of groceries was
not to be had unless the cash was paid
down for it. The busy army of men of
a few days before looked about for an
inviting field. Reports of the crash
came from every direction. IT was but
a short time until Granite was practi-
cally deserted; Philipsburg lost the
greater part of its population, and the
liveliest little mining district in the
West was reduced to a quiet village
with npfbinu ,, partlxr e, r,.4o. -.
courage it.
On the LIST of July silver was down to
the 40 mark, and there was little in
sight to give hope to the faithful who
stood by the town. The price of the
metal jumped to 75& i'm August, but
the month closed with 6S cents bid.
Since then silver has been quoted as low
as 81 cents, and in fact for several
weeks in 1895 it had hard work to keep
from falling into the 4O's. Since Octo-
Der, 1898, when the purchasing act of
the Sherman bill was repealed, quota
tons fluctuated between 81 and 90 in
June, 1896. In June, 1894. IL was 62&
June, 1895, 66k; June. 1897, co.'s. and
June q of this year it was quoted at
59&. Tha is the highwater mark for
the year. During April of this year h
average price was 557k; May, 81; first
three weeks in June, 57h2, and the later
quotations will bring the average for the
month up to about 5S12. This year, how
ever, the burg is in better spirits and the
people have reason to be joyful since the
mines are resuming operations after
five years of idleness.
referring to the advance in silver. the
Salt Lake Herald said last Saturday:
The advance of silver quotations yes
terday TO 59ls cents, the second time for
this month, caused considerable pleas
ure n self-congratulation among min
ing n business men, as ii gives foun-
dalton to the hope as well as the belief
that the white metal will not cease its
upward march until conditions Will be
such that all of the silver producers of
the West can be reopened and profit
ably worked. During the past five years
the cause of silver has had a hard road
to hoe, and at times the prospect was
especially gloomy.
still ii is a long way yet to the mark
occupied by the white metal in 1890.
when silver was quoted at S1.1S and lead
at 50. The slump in silver and lead has
almost paralyzed the mining industry
in his Western country during the past
eight or nine years, and almost every
other line of business has suffered in
the same ratio, and there is no question:
the accuracy Of the statement made
TO the effect that until silver is restored
to it's rightful position by the side of
this country will never again feel
or see genuine and lasting prosnaritv -