Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1898-08-05

4 very picarurablc emotion was cN-
porlonc0d by large number N readers
m the "Ncws" yesterday evening when
their eyes Zen upon the Dispatch an
nouuring tho rumor " the intended rc.
opening " me Indian mlnta 10 the frcc
coinage or silver. Although the ratio
suggested iH greatly in excess N that
now prevailing. being an advance from
tG.i 20 22-i. IL r. sim recognized that
even thon free coinage would mean
au Immense advance IN the Industry ~
silver mining aud the price ~ silver
itaolf 10 IN hardly 90 be- expected aa
things stand now that tho parity ~
gold aid silver can ho forced by lcglH-
iniion ana maintained commercially at
the present ratio. but some such com
promise nn that named would result In
the practical equality ~ the metals and
Instead ~ making silver lower would.
na stated. advance u greatly with some
show ~ pcrmancucy
u viii boz remembered that In the bat.
ils royal Tor silver that was fought In
ihc cxtn scralon Of Congress held In
tho summer ~ 1879 sliding scale Of
ratios was prepared. by the advocates
/ NJ tho white metal. commencing with
/ 10 o. and running ON In regular ur-
/ der 10 "a toi. Each was voted down
by O. decisive majority the last proputi.
ton receiving fewer votes than the
| Ant SO the purchase vi silver fur
coinage purposes by the government Ht
any valuation al nll wns shut on and
the metal took a great drop from which
u has never recovered. ~ n matter Of
fact u steadily declined from the point
10 which II mt fcll. loforc The nc.
ton rpoken o. silver was tNrably
nrm In the markets AZ about 80. as
foon Az The hostile legislation became
/ law Il 90 once declined some twenty
three per cent. or 10 a little more than
% cents. and Kept declining with oc.
cnslonhl SLIGHT rallies until II touched
%. Before II reached ~ lowest ,hh,
however, several VI the greatest pro-
duclng mines shut down and have Ho
r,minoi. waiting Tor the reaction
which DO Ear has been WITHOUT visible
manifestation
n tho statement regarding thc 10.
sumption 81 coinage by tho Indian
mints nt g! o. 1 or nc any reasonable
ratio shall prove 90 he wgli founded
an tho properties which have boon
compcllad 90 lock their DOOR and lIa.
char1,e their forces will start up ar u
by magic. meaning employment de
r,ctly Go thousands NJ men ana ln1i-
rcci'y Go Thousands more. tis benefit,
could hardly De- estimated, especially at
q time of depression such aH we are
stlu lu the llugrrInE shadows of 90
course, the enlarged quantity VI bullion
which tho dollar would contain without
in any other way enhancing the coin
would be- l0fH 90 the silver producer.
but that difference would be- much NOR,
than overcome by the advanced price
~ the metal ln the markets. n the
profits amounted 20 no more than what
wrrs gained just previous 60 the grvaI
drop uf 1898. the busincha, especially
ou llrge scale. would be a compare
ItN,lY prosperous one; hut undouht
/ tdly We miaNt look with confidence ~
bsi,er things. no make matters abou
oven under ihe new ratio. that n, 4
/ make che protuetlon of silver bullioI
/ equal Goo profit 90 what 10 was i've year
| ago. tha price N bar silver would hnV'
t1 go TO about 90 ana remain firm "a
that. but with the rehabilitation ~ tn
metal ln 10 money function and Oh
vast quantities which tho empire Cd
India Ia able 60 absorb, we mlsht rea
sonabiy hope 60 scc the quotation rcacl
100 with a rising rather than a fallinl
infection. This would asaurcdly h
the means OF bringing about q rcyiva
ln that and some other lines of husincs
such 40 has been oct By great man!
Tor "a date much nearer the beginning
| of the new century.