OCR Text |
Show The Manhattan siver mining company of Aust u, has issued a circular cir-cular to its employes statins that it is incurring a loss from the present heavy discount on silver bullion equal to about $S,000 pr month, and that by the late regulations of the mints it would sustain a less of 10 per cent, in getting its silver made into coin. ' The company is therefore- compelled hereafter to make all payments for services in cheeks payable in merchantable mer-chantable silver at par. The eaid checks, while generally circulating at par would be discounted at a shave of about 5 per cent. For this pur-"pos.e pur-"pos.e Uiuy vuit lu.iuuiaL-ture saver bars of various denominations from to to $100. This large discount upon silver is one of the principal causes now operating against our silver miners, and it has been caused largely by the immense production of silver and the rapid substitution of guld and paper for that metal as currency. But silver has not yet fallen f-uflici-ently to enable our government to call in its fractional currency iu accordance accord-ance with the act of the last congress. Until the gold premium falls to 110 such a substitution is held to bo impossible. |