Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1903-11-11
SILVER COMBINE
TO milk WORLD
Long-Headed Plan of the Guggen-
helms to Corner White Metals
And Mines.
WILL hit The 70 CENT MARK.
Bigger Cleanup Within Next Few
Years Than There Was in Gold Dur.
ing Cleveland Administration.

silver ls going to 70 cents in the
near future"
That was the declaration OF one OF
the best-posted mining men in Denver
during a discussion yesterday concern
ing the presence Of the Guggenheims
and John Hayes Hammond In the city,
says the Denver Post.
II saw It coming a long time ago"
the speaker went on to say, "and | got
in a little bit myself when | heard
how the Guggenhelms were buying up
all the silver mines they could lay their
hands upon bought one myself, up
near Georgetown. and | can make a
good proft out OF It right now No
matter what the official may say 10
the contrary, II Is certainty that the
smelter trust put up the price OF sill
yer. OF course hey didn't do it alone
Big English syndIcates helped them and
these syndicates, 10 | understand were
discovered by John Hayes Hammond.
THE price of silver is going to adj
vance all over the world and all the
siver-using countries are going to lose
money by 1t, just as the United States
government has done already. There
IL to be bigger cleanup made IN
silver within the next few years than
there was I'm gold during the Cleveland
administration.
"Of course, there Is a demand for
silver. II Is needed for coinage by
China, India and the United States but
the smelter trust controls the big sill
ser producing mines In America and
Mexico and they'll see to II that the
supply does not exceed the demand.
They'll fix the price. too, and there is
10 getting around II. This is one OF
the chief reasons the Guggenheims are
now In the west. They viii make Il
tour of inspection among their silver
properties and then 20 home to con-
graduate themselves on their enormous
profits"
Yesterday Daniel and S. II. Guggen-
HEINZ John Hayes Hammond and other
members OF the inspection party spent
the day In Denver and a busy day II
was, "Details were bying gone over
which IN less than two years will mean
profit OF at least s5O,00O.OOo to the
Guggenhems and their English allies.
Just think OF it-sb0 0OO O00--and then
the question naturally follows: What
percentage Of this will each OF the sill
Ver-using countries pay? The answer
Is not for the present, but In a not far
/ distant future each government win be
able to forward It's part 81 the solution.
The corner in silver has already cost
Uncle sam pretty penny, and II silver
goes up to 20 cents, as predicted, all
the silver money now in use In the
Philippines and that which is to be
coined VIII be worth far more as bull
lion than as money and the whole is
sues will have to be called in for re-
coinage. Within the past few months
the Increase In the price of silver has
cost the government $3.50 600 for Philip
pine coinage alone, and England has
also been purchasing heavily for coin
age In India. Now China Is to come in
TO the market stronger than either.
Since her recent wars the Flowery
Kingdom has been purchasing no silver
at all and at the same time has been
paying OFF debts and indemnities with
silver from the treasury. Maybe the
smelter trust did not appreciate this
condition when II went IN TO corner
the market, but It Ia undenlable that
he eye OF the man who suggested the
combine saw FAR into the future. The
dal was one NJ the shrewdest In modern
financial history and the clean up"
WIN be made before 1t Is fully appreci-
ated.
When Mckinley and his gold stand
ard sent Bryan and his white metal
disciples into the gloomy pool Of de-
feat, the cry went up that the west was
ruined. II relied entirely on its pro-
auction or silver some people thought,
and there was waiting and crashing
OF teeth. The price OF silver began 10
slide downward and nearly everybody
VINO owned a silver mine sold out or
closed down, But, IN spite OF this. the
west grew strong and healthy and the
output OF gold figured up to be three
times az great as silver had been. Here
was another reason TO desplse the silver
mines and people actually forgot they
were ever operated, And all this time
the price of silver kept declining
with conditions prevailing as out
med above. few close observers won
dered why the Guggenhelms kept buy
ing silver mines in this country and in
Mexico. II IL estimated that they
spent at least t300o0OO0 securing prop
critics In the sister republic. Now. how
ever the man who claims to read "a
he runs, declares ne can solve the rid
die The Guggenheims were part OF
pool formed TO corner the market and
to Keep the price down until the corner
was secure.
This, II would seem, has been sue
cessfully done and before outsiders can
enter the held In competition and open
up new but known reproducing
properties, the combine will have profit
ed handsomely at the expense of sew
eral governments.