| Show many endorsed the silver law enacted the last session of congress with feelings of joy they looked upon the as very condescending some wondered what lad caused their sudden love for the white metal while others viewed matters from a standpoint of suspicion the latter knew that 0 p is largely composed of gold angs who wield an immense influence in political circles and who would never sit passively by and let legislation be enacted detrimental to their interests they have to much power in the halls of congress for that therefore when no very vigorous kick came from the goodites gold ites act be passage of tle present silver law there was good ground for believing that something was wrong that the wall street speculators had some hidden motive their motive has since been made apparent it haq been proven by actual experience that by the aid of secretary the arico of silver can bo run down or up at the instigation of speculators this unsettled condition of the market ia the cause of serious trouble to the mining interests of the west now comes the unwelcome news that in colorado hundreds of silver mines are about to close down activity was given mining interests by the sudden rise of the price of silver immediately after the bassage of the silver bill smelter bought all the ore offered paying the same prices as that at which silver was quoted deducting the usual smelling smelting sm elting charges many mine owners anticipating the advance in silver had withheld their ore and after the passage of the silver bill they rushed it to tho shelters smelters sm elters and the latter pur hosed every within sixty days after the bill passe devery smelter in tha state found it was carrying fully in excess of its usual stock this did not alarm them as they naturally suppose silver would continue to advance it did nothing of the kind and tho decline has cost the shelters smelters sm elters of colorado many hundreds of thousands of dollars the price declined rapidly and within a short timo showed a decline of 26 conta the three shelters smelters sm elters in denver each usually carry a stock of ore worth and some idea of their loss can bo had when it is that they lost 16 an ounce on worth of ore now the shelters smelters sm elters are making up choir losses by adding to their charges for milling they have to do this or stop business but the prices they charge have compelled many low grade mines to close down as aboy now prove unprofitable the result Is that a mining crisis is bonding pon ding which will be a sad blow to the mining interests of the west and it has become very apparent that the new silver law is responsible for it in that it has made silver a toy of gold bugs |
