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Show INTER-MOUNTAI- N MINING REVIEW. sess sufficient intelligence to see that neither of these irreconcilable propositions is correct. That free coinage will rescue the country from the curse of falling values is universally conceded, Devoted to the Mining and Smelting Interests of and there will be a general advance in West. the prices of all commodities, labor included. The cost of silver production will Published Weekly by C. T. HARTE, Room 223 Atlas Block. increase in exact proportion to the general advance in prices, but this advance TERMS : is not likely to reach 100 per cent. The (Payable in Advance.) 32.00 producers of silver, One Year therefore, have 1.00 reason to Six Months anticipate increased profits, 50 Three Months To England, Mexico and Canada, 33 per yoar, but it is by no means certain that they postage prepaid. would derive any greater benefits than Entered at the Salt Lake City Postoffice as the Eastern manufacturers. aecond-clas- s matter. But the owners of silver mines, deINTER-MOUNTA- IN MINING REVIEW. Inter-Monnta- in veloped and undeveloped, and the owners of gold mines as well, have other San Fbancisoo Office : 61 and 65 Merchants' Exchange, where this paper is kept on file. Advertising contracts can be made with E. C. Dake, Agent. Ernest and Cranmer Denver Office: Bnilding. reasons for advocating free much more powerful than the price of silver bullion. They have gone to the root of the financial question, and have become convinced that free coinage will restore life to paralyzed capital; that the general advance in the values of all things save coinage-considera- 711-7- 11 Salt Lake City, July Interest 30, 1896. of Silver Miners. tions money would unlock the vaults now Nothing: is more tiresome to the min- bursting with hoarded millions and ining: West than the goldbug twaddle duce investment in every industry and about the influence of the "silver bar- enterprise. The mines would eventually ons," and the dally reiteration that the attract a large share of this capital, a silver miners are at the bottom of all market for properties would be crethe agitation. The very ated, the needed money for developmen who prefer this charge those pro- ment could be easily secured, and the found students of finance who defend result would be an era of unprecedented the gold standard by shrieking "anar- activity in mining. chist" to their countrymen also supply The silver miners and the gold minproof that it is silly, ridiculous and un- ers, in advocating free-silvcoinage, true. Silver is now selling at about 69 are controlled by precisely the same cents per ounce. Under free coinage it motives that influence all other sensiwould sell for $1.29 per ounce. But the ble citizens who have reached a correct producers would be paid in silver dol- conclusion upon this subject. lars, and if there is anything at all that the goldtug knows to a certainty, The Incorporation Evil. it is that these silver dollars would be The depression from which all the worth but fifty cents each. Therefore, according to the goldbugs who can- - mining stock exchanges are now suffernot lie and never are mistaken there ing may be attributed in part to the incould be nothing plainer than the fact corporation craze that swept over the that free coinage would reduce the land last winter and spring. The marprofits of silver mining, for the pro- ket was deluged by such a flood of ducer would receive but 50 per cent of stocks, many absolutely worthless and 31.29, or 64 cents, against 69 cents others of doubtful value, that confinow received, a clear loss of 4 cents dence in mining Investments was imper ounce. If goldbug logic is sound paired. Before It is fully restored there and goldbug statements are true and must be a separation of the chaff from who can doubt them? why should sil- the wheat. The incorporation evil is ver miners advocate free coinage, unless now upon British Columbia, and the they are a pack of fools? Surely, if Canadian Mining Review feels it to be they were men of ordinary intelligence, its duty to "call a halt." It says: "Conservative mining men urge that with an eye to they would it is time a halt were called in the be unanimous for the gold standard. The silver miners are neither fools formation of irresponsible mining stock nor goldbugs. They believe that free companies. They say men who never coinage would Increase the profits of saw a mine, who know nothing of minevery industry, and of silver mining, ing methods, are lending their names perhaps, more than any other, although to doubtful enterprises. Many have they do not all agree upon this latter become feverish over stock speculation, proposition. The idea sought to be con- and nothing can be done to prevent It. veyed by the Eastern press when it There are now over 3000 mineral locadenounces the "silver barons" is that tions in the Trail Creek district alone, these greedy and designing mine-ownecovering at least 12,000 acres. In each will pocket as a profit the difference case the locator has sworn that he has between the present price of silver and mineral In place. This proposition is $1.29. The idea this same press seeks hardly tenable, unless the country is to convey when it rants about the one big body of ore, and this is not posfree-coina- ge er i self-intere- st, rs "flf-ty-ce- nt dollar" is that under free coinage prices of all commodities will advance to such a point that two dollars will be required to buy what $1 will purchase .now. The silver miners pos 3 corporate and sell out; that acres were as good for the purpose as mineral ground He also said: The forming of these really illegitimate companies was not for the purpose of working the ground, but for the purpose of mining the public. There is undoubtedly a large percentage of truth in this statement. "There is another thing which is working to the disadvantage of legitimate mining. Before treasury stock is exhausted, private stock is offered for sale, in many instances at a price far below that for which treasury stock can be purchased. As a consequence development is retarded, the treasury stock cannot be sold, and the proposition, even though it be a meritorious one, falls into disrepute. The purchaser of the treasury stock is disgusted, feeling that he has been duped, and denounces mining. "Perhaps nothing can be devised to eliminate the evils which follow in the wake of successful mining. It is an old story. It has been repeated over and over again, from the early days of mining in California. It will probably be continued until the end of time, unless the people learn wisdom." The Leadville Strike. The miners and at Leadville are apparently as far apart as at the beginning of the strike one month mine-owne- rs Each side is stubbornly determined to force the other into submission, and neither will make concessions. A spirit of conciliation would doubtless have accomplished a settlement long ago, but once one of these ugly contests between capital and labor is on, it becomes a battle to the death. The employers combine and resolve to annihilate the foolishly union and crush out the very spirit of organized labor. The lessons of the past should teach them that this cannot be done. Labor unionism is the child of trusts, monopolies and combinations of greed and capital, and so long as selfish corporations create the for its existence it will nevernecessity perish. It is labors sole protection and safeguard against organized efforts to reduce wages to the lowest possible level. It may be subdued, but it cannot be eradicated, and will rise up to vex ago. those who attempt it. Those and employers generally who recognize the existence of labor unionism as an unavoidable and inevitable problem, who are willing to occasionally view the situation from the standpoint of the employed and give open and candid consideration to all complaints of the union, granting all just mine-owner- s, demands when possible and explaining the impossibility of acceding to others such employers enjoy much greater immunity from strikes than those who, in a haughty, arrogant and domineering spirit, deny recognition to the union and refuse to listen to complaints. If the mine-owneof Leadville believe they are crushing out the union, sible. they are simply sowing dragons teeth. "A mining man said the other day The situation seems to have settled that any ground In Trail Creek could down to a question of endurance be sold; that the people were after whether the miners can live without acres, not mines, the idea being to In work or wages for a longer period than rs |