The Eureka sentinel. [volume] (Eureka, Nev.) 1902-current, 1919-12-06
ARBITRARILY n
DEPRIVED or right
Eureka-C Mine Operator Give.
Views On Coin ~ProbIem-Surviv.
al Of Fittest-Metal In Money
Is Being Hoarded Because
Of High Prices

0U-
In a statement given to a represep-
tative Of the Journal to-day, Eugene
Davis. wner OF the Eureka-Croe.us
mine, said:
Silver was arbitrarily deprived Of
its right to be a money metal in ia.
fance OF the law Of supply and de-
mand. The present insistent ana
rapidly growing demand for It ALI
over the world is ample proof that
the law OF the survival OF the 6ttas,
is still immutable.
Because of its high price, silver
coins are being boarded to such an
extent In European countries taat ths
governments are seriously consider
ing its withdrawal from circulation
and substituting a baser meta or de-
basing the coin itself.
Since the embargo on the exporta-
ton Of silver from this country was
lifted last May, China has been a per-
sistent bidder at advancing prices and
now. being unable to get all the bull
lion she wants. is paying a premium
on our silver dollars.
England Is paying her maturing
obligations to India in gold, while
the latter is buying great quantities
of the white metal from US with the
gold she gets from England.
I'm her extremity. having lost con-
troll OF the silver market, England is
| short OF the metal and is bidding the
highest prices ever known.
so high is the price and SO great
Is the demand for silver that there
is a fever OF excitement and uncer-
tainty throughout the financial world.
mo one can forecast with any de-
gree of accuracy to what heights the
price OF silver may climb. Our Gov
eminent may be forced TO take some
step to prevent the disappearance of
our silver dollars and throw the bull
LION ON the market to keep the price
Of the dollar on a parity with gold.
The evils of forced credits issued
in the form of paper money during
the war have become SO apparent
that the peoples OF the various coun-
tries which issued paper circulating
mediums during the war are losing
confidence and are demanding metal
lie money.
The silver situation has become
momentous almost In the twinkling
Of an eye and demands the most SER
ious and thoughtful consideration OF
silver producers. A toe high price
Is fraught with many grave dangers
to the owners OF silver properties as
well as to the public generally.
Supply Is the only reply to In
creasing demand II the commodity
sought Is to long remain In general
use. Prohibitiye price will newt
ably kill the demand SO long as the
article Is not necessary to life.
1T Is obvious that an increased
production of silver Is the only safe
remedy for the situation. 1t should
be fostered and stimulated In every
practical way possible by the Govern
ment. Every form Of taxation should
be removed from all profits and In
come derived from silver mining, that
many known properties OF too low
grade to be profitably worked SO long
IS present tar laws are In force may
De put on a producing basis.
This is Nevada's great opportun-
ity. Since the demonetization OF sill
yer her great in the metal
have remained practically dormant,
She has i~ncalculable amounts Of sill
YER In her mountains, and now Is the
time for realization. The silver men
of this State should see to 1t that the
Legislature passes a strong resolu-
ton asking Congress to remove the
excess profit tax and the tax on all
incomes derived from investments IN
silver mining. This should be backe
up by a determined effort on the part
Of the producers and all affected IN
terests to get suitable legislation en-
acted by the next Congress-"