|No Copyright - United States (NoC-US)
|Digitized by J. Willard Marriott Library, University of Utah
<c uttic muxcw Publlsbed.every Friday morning C. F.&E. H.RATHBOKE. TRICE OK SUBSCRl I'TION.-I- N Ijy ADVANCE f fxi One year 1 Six months 1 Ou Three months If not ptiid in advance: One your, frl.uo; bix months. fc.Si; three months. U.oO. Entered at the Post-oft- tc for transmission through .s matter. atEuroka. Utah, as teo lie mails Eureka, Utah, Friday, June 12, 1891. PROSPERITY AHEAD. Every indication, just now, points to a prosperous season for Eureka. New mines are being opened up every day, new enterprises spring up and the near approach of the Rio Grande Railway assures inflow of capital such as was never experienced here before That there is ample room for all capital that may come here is beyond the shadow of a doubt. Very bad weather, an unprecedented thing here, has been the cause, of keeping back many capitalists. Now, however, t lie bright and balmy days of June will invite outsiders to visit the camp, and those who are once favored with a glimpse of Eureka's riches scarcely ever leave without investing. The present season promises to be one of great activity, not only in min ing but in building and other improve ments. The county authorities have taken Into consideration the great importance of Eureka and have decided to build a court house here. The con tract has been awarded, the site se lectcd and work will be commenced in a few days. On almost every vacant lot on upper Main street new buildings of a substantial character are being erected. This goes to show the abiding faith people with money to invest have in Eureka. There is no sub stantial reason why the camp should not be Utah's Leadville, and nothing being opposed, it is now admitted that it is not only that at present, but that it will surpass that great camp in the output and excellence of its ores. The signs of the times point to a a great future for Eureka and the great Tintic country. INGERSOLL TALKS SILVER. We clip from the Mining News, of Seattle, the following words from an article from the pen of Col. Robert 0. Ingersoll: " We must have free coinage, or else a restoration of silverto its coin value, viz: $1.29 per ounce. It is all nonsense to talk about there being too much silver. There is lew silver in proportion to 1 lie number of people in the world than ever before known. I hold that a silver dollar is better than no dollar. The heartless ex tremely selfish "sold bugs" don't even want the the people to have a silver dollar. If the gold millionaires ever do succeed in demonet izing silver in tlie United States then the people are bigger fools than one would think. I say if they do succeed in demonetizing silver thus taking f out the inctalic currency-th- en the people should rise in their might, demonetize gold, and make t he "gold bugs sick. " Why cannot wealthy men be just? All we ask is honest money and silver is just as good at $1.2U per ounce as gold is at $20.ti" per ounce. It is an outrage and an intolerable imposition to the miners of this country, that we should let England, or any other foreign government, set the price on our silver. American miners produce the silver and then pass it over to "John Hull" to mark its value. It won't do. Such "statesmen ought to be impeached for treason. There is something wrong in the management of our monetary affairs and it should be righted before hundreds of millions more is lost by this fraudulent conspiracy. Elect a "free coinage" administration, and then if we can't have free coinage, impeach, hang. shoot or drown the whole outfit, ami try again. What would be the condition of the world today, if there had not been any defense of human rights? There would'tbe a spark of liberty anywhere. I demand, and I think all honest miners demand, that silver be restored to its old coinage value, either by a resumption or tree coinage law, or else on the deposit of silver bullion, receive the usual cert ideate at Ihe rate of $1.2!) per ounce per each ounce of pure silver, and this certillcate to be legal tender. This is far from inflation as some would have us believe. It is simply a restoration of the white metal to its ancient value, and that is all we ask. The " law " that caused the " reduction " of silver, compared with gold, is a dishonest law, and there is no ipiestion about its dishonesty. It is to our interest to be friendly with our own products. Silver as much today, for monetan purposes, as ever it. was in the history of t ho world. It lias been adverse legislation Ihat has crippled silver and not the natural law of supply and demand. "Give us silver give us honest money." A silver dollar is ju- -t as good as ii gold dollar." The above is an honest cxprcsjon of an honest man, and carries with it all the weight that the great and far seeing intellect of the author just illes. (mono-me-talist- one-hal- SENATOR STEWART'S VIEWS. Senator William Stewart, of Nevada, hammers away at the gold bugs whenever he has an opportunity. In one of the papers here today great prominence is given an article under which is the Senator's signature. The venerable legislator from the home of the sage brush and alkali plains, says this: " The gold men admit the product of the mines is growing less each year and that it is insufficient to keep a good stock of gold coin on hand, and that the gold reserves in Europe are growing less and less every year, while business and credit arc expanding. I conversed with a number of leading business men recently in New York and I met no man who contended that a continued contraction of the currency and an expansion of credit would not bring ruin; nor have I seen one who suggested a remedy. They simply told me the gold men will create a panic if anybody interferes with their scheme of enhancing the value of gold. In other words, the world must submit to them, although it is admitted their policy will produce inevitable, ruin to the masses. I suppose it is a fact that the gold men have used t he press so long for their purposes and have iterated and reiterated so constantly that an increase in the volume of currency would produce a panic, particularly if that currency were based upon silver, that many people look upon free coinage as an immediate calamity, wdiile at the same time acknowledging it to be the only alternat ivc from inevitable bankruptcy and ruin. It is strange so much stress is placed upon the predic-- j tious of the worshipers of gold where none of them have heretofore come true. In 1878, when the Uland act providing for the purchase of not less than $2,.Ki0,000 nor more than $4,000,-uo- o worth of silver bullion per month for the purpose of coinage was passed, the gold press was unanimous in predicting it would drive all the gold out of the country and produce ruin. This act was passed over the veto of President Hayes, business was revived and gold accumulated in the country. Mr. Cleveland came into power in 1884 on a free coinage platform, but discovered before lie was inaugurated that if the Eland act were not repealed, ruin would come in three or four mouths. The democratic house of representatives refused his request to repeal the act. Ruin did not come, but the gold reserves increased. Last year, when the act providing for the purchase of 54,000,000, ounces of silver bullion per annum and issue of treasury notes thereon was passed, the gold standard contractionists and all their organs renewed with increased emphasis their usual predictions that gold would leave and the country would be ruined. The bill was passed and gold did not leave, and the country still exists. They now tell us, as they have told us heretofore, that any further use of silver as money will produce inevitable ruin. Yet, strange to say, there are people who still believe in these prophets. This is an False prophets in other anomaly. countries have been slain. Nearly all aborginal tribes in this country are in habit of slaying their prop'nets after tlie third failure to tell the truth. Hut the gold prophets appear to have gold enough to secure exemption from punishment and by some magic still charm and deceive their credulous M. followers. SOUND SILVER TALK. The Financial and Mining Record ' In complete defiance of monec writers of tary history, all grades are continually insisting upon the alleged " vacillating qualities of silver." Monetary history shows that gold has undergone even more frequent and greater changes than silver lias ever done, but the causes which have wrought these changes have invariably been the same with respect to the one metal as the other. For example, after Julius Ca'sar's famous campaign in Gaul, he brought back so much gold that the value of that metal was at once de preciated so that one ounce of it, which had previously been worth seventeen ounces of silver, became ex changeable as a commoditv, for no more than nine ounces of silver and that became the settled ratio during the life of C;esar Moreover, as may be seen in tlie pages of Momsen, about A. I), lioo. gold bullion was depreciated in Rome and throughout Italy fully 33 per cent below the legal value given to it in tlie coinage of that period: this because of tlie sudden influx of the metal from the newly discovered mines of what are now Styria and ( 'arint hia. hit coming down as near says: mono-metalli- ! 1 to our own epoch as 1872, the generally recognized legal relation of gold to silver in the commercial world was, as indeed it even is at the present moment. 15 of silver to 1 of gold but the bullion value of silver at that time in London was 3 per cent above par with gold at that ratio. Meanwhile, however, or ever since 1870, Treasury I'epartiiient influences here in the United States, had been insidiously and covertly impregnating the minds of certain members of congress with the idea that, because of that very commodity value of this silver in our dollar of 112 grains, or 3 percent greater than the metal in our dollar of 25 grains standard gold, on the 12th of February, 17.1, our congress in chief patt. absolutely ignorant of what it was doing, demonetized silver as a full tender money in the United Stales that by that time had become the n chief producer of the white metal in the world, or of as much as forlheyear i72. Within four months Tiihkk sales of mining property are after tlie United States, through a reported this week at very reasonable wicked conspiracy, had done Ibis faThe mining boom In Tintic tuous thing, Germany, under doctrifigures. naire inlliieiu'es, somewhat, lull chiefly district is a solid one. i becau.-wstock t ranee had tlie hi.t-.-sof silver of any occidental, country, was led to demonetize as'ium-as 2'.i.j,ooVMiof hersilver and lynrnark. Sweden and Norway, took step. As a mere measure of in such an exigency, Vrance, Italy and Belgium gradually suspended the further coinage of full tender c pieces and, of cour.e, the price of silver fell, not because of the "vacillating qualities" of the rectal but because of its virtual degradation from the full legal tender funeUsm by over U0,000,000 of people (with a restricted use by fully 50.000,000 other people) all being of leading commercial nations. Now suppose that gold instead of silver bad been similarly, treated, or restricted, as the money agency of 140,000,000 people of the commercial world almost simultaneously, would it be at all likely, at the present writing, that one "junceof gold bullion would be hold in London as the equivalent of fifteen and f ounces, much less of nineteen ounces of silver: Men infected with the insensate theory that the vast affairs of the whole commercial world may be carried on with a single monetary basis of gold, are utterly blind and deaf to the fact that, at the very most, the total stock of gold available for ione-tar- y (purposes does not exceed They persistently exclude from their consideration all the material matters essential to an intelligent adjustment of the whole question of a specie basis for the money of the commercial world including not only the comparatively small amount of newly mined gold that is available to the mints of the world, but they are obdurately blind, also, to the bearing of the fact that, as matters stand, there is as much as $3,308,500,000 of legal tender silver money in use at the present time, which the theory of a monometallism of gold would logically and inexorably eradicate from further monetary use in the business of man. In other words, their system, boulted to the bran, means and aims at naught else then the contraction of the metallic monetary appliances of the world by fully one-haof the present volume, which would virtually leave the metallic monetary basis of the commercial world at a standstill, while the business of that world which requires money for its nourishment and vitality, is growing greater and greater every year. All who contend for gold mono-iutallism obdurately ignore the preg' mint, undeniable fact that the gold coined for example, in the fifteen years ended with 1889, reached the enormous sum of $2,221,579,538, or a yearly aver age of more than $148,000,000, while tlie yearly product of the same metal for the same decade, aggregated but $1, 018,500,000, or a yearly average of but $107,880,000. That is to say, the yearly consumption of gold by coin age lias exceeded the maximum, esti mate of the yearly production by However, the mints are by no means, the sole consumers of gold, foi, according to recognized authorities, during tlie fifteen years in ques tion, the amount of gold consumed in the industrial arts has averaged fully $1)5,000,000 per annum, with as much as $15,000,000 absorbed every year by I'.ritish India not to speak of China and Africa. Therefore, the total con sumption of gold during the fifteen years ended with 31st Dec, 1889, must be set down at: ; five-fran- one-hal- $3,750,-000,00- 0. lf c' lty Mints for money purposes lit the industrial India, etc.. . is all right. Next :.; i. p.; Chronicle some good st 'lkes ill the north end. Tlie past week has been a very satisfactory one all around. ij Toe liingham Bulletin is the latest mining camp newspaper venture in Utah. It is a folio, typographically neat, and edited w ith much ability. The Bulletin give promise of being a worthy and energetic advocate of the free coinage of silver, and on this proposition alone the people of Bingham should give this journal a hearty and enthusiastic support. The Mixer extends a hearty welcome to the Bulletin; in the words of Old Rip, " May you live long and prosper. " n 'Geo. Arthur Rice, who is a very careful student of probabilities and also very conservative in making estimates, says the Salt Lake Times, gives it as his opinion that Tintie will this year nearly, if not quite, double her production in 1890, which amounted to 75,000 tons. The conclusion is reasonable and altogether probable. Several of the large mines are in better shape to produce this year than last. The Beck, Northern Spy, Coresa and one or two other mines have been equipped with new hoisters and have already increased their output. At Silver City there are twice as many mines working and the shipments have been largely increased. Add to these the new discoveries on the Red Rose, Shoebridge, Silver Moon and the other mines which are showing well, and it can be seen that an Increase of 75,000 or 100,000 tons is not unlikely. " Every miner feels greatly encouraged by the fact that some one has at last exhibitetl enterprise enough to solve the problem of the existence of pay ore beneath the sulphides, as C. II. Scheu has determined to do on the Success in that venture Shoebridge. will mean that dozens of those old mines will start work again, hundreds of tons of ore will be produced daily and thousands of miners employed. The new strike on the Shoebridge has convinced everybody that there are many good mines yet to be discovered and possibilities for the old camp never yet dreamed of. Times. J. A. Boid, superintendent of the Silver Moon, is in town. Silver City he says is producing three tons of ore today where last year it produced one The Silver Moon is working quietly and taking out some ore. The Butch er Boy near Diamond is developing well and bids fair to become a good mine. In driving from the old 130 foot shaft on the Coresa, a new body of ore was opened which assays from 40 to 1800 ounces in silver. Times. m. i) Unless you are Looking for I!;irgains. a JOHN -: McCHRYSTAL, z The Wholesale anel Retail CD :- X H O J o CO Q O O a DC a -I- fEALEK O O in 1 CO c mm iirciiiiiB CO X om Desires to cull your attention to the.fact that his SPRING STOCK HAS ARRIVED! And CO that his "assortment is larger and more complete than heretofore, by all (xlds. Amine; the laic arrival in our Dry be Goods found may elegant CASSIMERES, HENRIETTAS, TURNER DRESS GOODS, LINSEYS, BRILUANTINE, PENELOPES, P0NGESE, PERSIAN MULL, 3D LLAMA CLOTH, WASH SURAH, CHALUES, CAUC0 AND GINGHAMS ' SERGES, BROADCLOTH. est line o "0 m - Fin- ever shown in Eureka. H CO Fine Line of Dress Triraifijs, Tcoiis and Plain Gimp. LACE CURTAINS AND SCRIMS FLANNELS. OUT DOOR SUITINGS, RIBBONS, CORD and TASSEL. Plain and Fancy. piinTUVO and Fixtures, New and Tasty. n ..A..t.i.:.::... i nnprn J vcrr U,r H , I., I 111 new avy icn ctitu xtiiteiiis in yr - UJ cc I I!. OUR CLOTHING DEPARTMENT Is Again Complete, Q CC With Stylish Suits, ftuui Latest I'litterns. Hats and Caps, New Styles and Superb. a a'aa X UJ We have Large- - Stocks of h 2 CC 'are, Builders' Material, O O m ' In BoOtS and Shoes we carry a Large and Elegant Assortment. cc o 2 m CO "U taiim 3D O CO When you need GROCERIES ! o CO call and see us. Our stock is Lara- and Fresh. groEverytbiiif; usually found in a cery store, wo. carry. liiM-Clu- m Me John Chrystal, Fine Boots Shoes. Lowest Prices ! Best Quality of Goods. J. B. CKOXIN, Manufacturer of REPAIRING NEATLY DONE. Shop opposite Sliea'S hail, - Eureka. Utah EURHKA tomi o Co. JOHN H. McCHRYSTAL, Manager. ADAM S & SONS CO EUREKA AND NEPHI. Lumber Yard 21."Ts.5:w f Total consumption of irold 'T.VsU ?:U'.wuhi.wx Average yearly consumption .... 107.NMJ.OOl) Average yearly production Thus tlie consumption of gold must have annually exceeded the production about $122,500,000, on an average since i8o, from winch it may he logi s cally inferred that more than of the gold coinage during the fifteen years in question, in effect, lias been a recoinage. Under a so unceasing, so strenuous a quest for gold, stimulated at the same time by tlie war made by wrong-headedoctrithree-fourth- d naires and misinformed capitalists against silver money, there has been caused and kept up a constant flow of gold coin to and fro among the commercial states, which lias been at tlie bottom of the greater part of the business depression of the world, meanwhile, and never to a worse or more pernicious extent than at the present time and nowhere to a more manifestly perilous degree than in monometallic England. We do not know how much significance there is in that rumor alxmt a French silver syndicate proposing to take all the silver that is produced by our mines. Rut we do know that then: has not been a time in the last two years that half a dozen bankers in New York could not have put silver at par in a month, and if these Frenchmen have, organized such a syndicate they have done it on the absolute certainty of making the difference between ps cents and $1.29 for every ounce of silver t hey may gather up in the next four mont hs. Tribune. AND ANNOUNCEMENT ! Our team will call at your residence every mornins and take your order, and Ave will guarantee quick delivery and entire satisfaction. TiiKg'dd strikes in the icinitvof Silver and naniond is good news to the prospectors of the (list rict and the public generally. Everything over there is yet on the surface, so that the milling possibilit ies of (he count ry are beyond compulation. The south end Plan i n g Mill DEALERS IX Lumber and Building Material OF ALL We are now opened up and ready to wait on the trade and have a new and fresh stock of Staple and Fancy Groceries, Tobaccos, Cigars, And everything usually car ried in a first-clasgrocery store. s li' is much to be regretted that hoodlums should be allowed to conWe intend to carry a first gregate on our sidewalks and with stock in every particu class and assail vulgar profane language and insult the ears of passing ladies. lar, and hy square dealing That ladies have t he same privilege and an active; competition we as men to travel the streets, goes to the gam pntionagotif without, saying. It should be the hope duty of every good citizen to see that the; citizens of Kureka and vi ladies should tie protected. If our cinity. Trusting you Avill town was incorporated, laws could be give us a call and learn our enacted covering this ground. prices, we are1, yours for trade1, 1 Don KWPS Builders' Hardware Jails, Etc. ATTENTION ! We have just received a consignment of Wire Screen Doors, and the Celebrated Pat ent Metal Frame Window Fly Screens, which will fit any size window. Call and see them before placing your orders. We wish to call esnnnir:! attention tn thp fact that our yard is by far the closest and most convenientto the Hsh Springs and Dug- wav districts. who pynprt tn hvilH in either of these places will benefit themselves Par-tin- s by buying of us. All bills Dromotlv filled sible Prices. atthe Lowest nos- - ADAPTS & SOW Eureka yard at U. P. depot.